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SMH trade ideas

Opening (IRA): SMH November 17th 122.5 Short Put... for a 1.34 credit. Comments: Adding a rung out in the November monthly so that my October rung doesn't look so lonely ... . It's actually because SMH 30-day IV is still fairly decent at 31.6%; the only options liquid ETF's with better IV are GDXJ (35.2%) and FXI (32.0%). Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the semiconductor exchange-traded fund.
NASDAQ:SMHLong
by NaughtyPines
Yostudy(title="FibFib", shorttitle="AutoFib", overlay=true) fiblength=input(265) maxr = highest(close, fiblength) minr = lowest(close, fiblength) ranr = maxr - minr ON=plot( maxr , color=black, title="1") SS=plot( maxr - 0.236 * ranr, title="0.764", color=#3399FF ) SO=plot( maxr - 0.382 * ranr, title="0.618", color=blue ) FI=plot( maxr - 0.50 * ranr, title="0.5", color=lime ) TE=plot( minr + 0.382 * ranr, title="0.382", color=green ) TT=plot( minr + 0.236 * ranr, title="0.236", color=red ) ZZ=plot( minr , title="0", color=black ) fill(ON,SS, color=red) fill(SS,SO, color=#3399FF) fill(SO,FI, color=lime) fill(FI,TE, color=lime) fill(TE,TT, color=#3399FF) fill(TT,ZZ, color=red)
NASDAQ:SMHLong
by AGG12
SMH Daily a Break of 143.50 is "Katy Bar the Door"Tomorrow, 8/18, is a critical day for Semis. Should the selling continue, to the tune of -1.38% off today's close, and we could see a break of a key Gann Confluence support at 143.50 (middle circle), which is a prior pivot (left circle). Below that area is free-fall (yellow highlighted), low volume, and little support. The 136 area I had pegged a while back on another chart. IF selloff continues tomorrow, we could have an interesting setup for Monday.
NASDAQ:SMH
by UnknownUnicorn13101
2
SMH Semiconductors WeeklyI missed a call for a pullback on June 6, so Semis have held up pretty well since. We have a cup & handle on the weekly, and the point & figure also shows a distinct cup & handle. I see a big breakout in the near future, perhaps catalyzed by a fed rate pause. In the nearest term, we have an island top on the daily, with declining money flow index, so there could be a small pullback, but nothing to get alarmed about. I would like to add some semis on a dip....
NASDAQ:SMH
by UnknownUnicorn13101
U-shaped volume pattern A U-shaped volume pattern is a technical analysis indicator that can be used to identify potential turning points in the price of a security. The pattern consists of a sharp increase in volume followed by a sharp decrease in volume, which forms a U-shape on the chart. The U-shaped volume pattern is often interpreted as a sign that a trend is coming to an end. The sharp increase in volume at the beginning of the pattern indicates that there is a lot of buying or selling pressure in the market. This pressure can push the price of the security up or down, depending on the direction of the trend. The sharp decrease in volume at the end of the pattern indicates that the buying or selling pressure is starting to dissipate. This can be a sign that the trend is losing momentum and that a reversal is possible. Of course, the U-shaped volume pattern is not always a reliable indicator of a turning point. The pattern can also be formed for other reasons, such as a news event or a technical event. As a result, it is important to use the pattern in conjunction with other technical indicators and to consider the broader market context before making any trading decisions. Here are some of the factors that can cause a U-shaped volume pattern: News events: A major news event, such as a company earnings report or a change in interest rates, can cause a sharp increase in volume. This is because investors are rushing to buy or sell the security in response to the news. Technical events: A technical event, such as a breakout or a breakdown, can also cause a sharp increase in volume. This is because traders are entering or exiting the market in response to the technical signal. End of a trend: The end of a trend can also cause a U-shaped volume pattern. This is because the buying or selling pressure that was driving the trend is starting to dissipate. If you see a U-shaped volume pattern on a chart, it is important to consider the broader market context before making any trading decisions. If the pattern is forming in a strong trend, it is more likely to be a reliable indicator of a turning point. However, if the pattern is forming in a weak trend, it is less likely to be a reliable indicator.
NASDAQ:SMHEducation
by Moshkelgosha
1
SMH Entry, Volume, Target, StopEntry: when price clears 151.71 Volume: with daily volume greater than 13.30M Target: 167 area Stop: Depending on your risk tolerance; 146.62 gets you 3/1 Risk/Reward. This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
NASDAQ:SMHLong
by tradepatiently
1
SMH Entry, Volume, Target, Stop, ResistanceWhen price clears 131.79 With WEEKLY volume greater than 39.87M or DAILY volume greater than 7.28M Target: 149.50 area Depending on your risk tolerance: 125.88 gets you 3/1 Risk/Reward. Resistance: 142 and 145 area This trade idea is not trade advice. This idea is strictly based on my ideas and technical analysis. Not due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
NASDAQ:SMHLong
by tradepatiently
2
SMH Update (daily chart)SMH recently peaked at 151.71 on May 30, leaving behind two gaps for potential fill in an area of low volume (yellow volume profile highlight). I am expecting a selloff into the gap areas, which also are at key fib levels. 5/30: peak = 151.71 143.89 = 76% fib (Touched today, and 5.2% off peak) 139.05 = 61.8% fib ( 8.3% off peak) 135.14 = 50% fib (10.9% off peak) The volume profile is based on quarter to date activity, March - today, June 5. I do not expect a bounce off today's low, the 61.8 % or 50% fib areas look more realistic to me.
NASDAQ:SMH
by UnknownUnicorn13101
SMH NVDA SPY & QQQ | Long Term Outlook Resistance Guide- SMH weaker than QQQ today potentially setting daily lower high but bears need more follow through at the moment - NVDA still potential 4h head and shoulders pattern if we confirm more downside - SPY very nearing 0.618 fib resistance we saw some money rotate from tech into SPY in the last two days making breath better - QQQ bull flag confirm still super strong every trend is healthy no closed just at the golden pocket resistance. Most likely scenario is weekly consolidation in the next coming weeks.
NASDAQ:SMHShort
by ArcadiaTrading
SMH Weekly Update (post split)I'm updating my prior SMH weekly chart, since we had a 2 for 1 split in SMH last week and it totally messed my chart up. Key points (dates are all weekly): 3/27: 131.79 (most recent peak) 4/24: 118.57 ( most recent low) -10.03% off the peak 5/1 close: 124.38 -5.6% off the peak Gann confluence line 1: 121.71 -7.6% off peak Gann confluence line 2: 114.46 -13.1% off peak The green trend lines indicate an apex forming right along the Gann rays (salmon colored lines) suggesting a directional resolution is near. After extending to the purple point D, which is almost a 1.218 Gartley extension, support appears to be holding at the 121.71 Gann Confluence support line. This line is also the top ridge of the Ichimoku cloud which can also serve as support. Should SMH rise off this support, then we would have had a 7.6% correction off the most recent high. Should current support break down, we would see a target of Gann support 2 which is 114.46, or 13.1% off most recent peak. Pros for upside breakout: A possible rate cut currently being predicted by SOFR futures as early as June or July. Banking turmoil could also call for a pause or cut. A reduction in rates would also signal easier monetary conditions which would benefit growth oriented stocks for a near term spike. Pros for a breakdown: Further hawkishness in the FED, combined with Bank Solvency fears. Seasonality: from 2004 to 2023 the SMH has finished the month of June higher only 42% of the time, the worst month in the year. Observation: The 12 month RSI, while positive at 57.16, is declining from a near term double top, and showing some weakness in trend. I would watch for continuing weakness in SMH momentum on the daily chart, as well as the breadth inside the SMH holdings. You can do this with flipcharts on the Barchart.com site. Presently, while I see a few stalwarts, I am also seeing a lot of breakdowns inside the SMH ETF. For example, MCHP, a very well run company with solid financials, just reported good earnings beats, yet it sank below its 200 day MA and has a weak daily RSI(9) of 42.11. Personally, I would not long any semiconductors until late summer and signs of turmoil have resolved.
NASDAQ:SMH
by UnknownUnicorn13101