As I often point out, technology stocks have been the leader of bull market since 2009. And it’s always a good idea to keep a good eye on leadership.
Within the technology sector, the Semiconductors are an area that is often out-performing. And today we highlight why active investors should be watching the Semis!
Today’s chart offers a long-term “monthly” view of the Semiconductors Sector ETF $SMH.
A few things come to mind. First, the up-trend from left to right since 2009 sticks out. Second, we’ve had a sharp decline and rally over the past two years or so. Third, this price action has created a bullish cup and handle on $SMH right at the 361% Fibonacci extension level. And it’s currently attempting to break out of this bullish price pattern.
It’s still early in the month, so we must be patient to see how $SMH closes. If it closes at or above current levels, it may be in the process of an epic breakout! Stay tuned!
$SMH Semiconductors Sector ETF “monthly” Chart
Note that KimbleCharting is offering a 2 week Free trial to See It Market readers. Just send me an email to services@kimblechartingsolutions.com for details to get set up.
Twitter: @KimbleCharting
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
