When the Price of (SMH) Talks, People Listen

July 29, 2024, 08:46 am ET, BY Rick O.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for SMH

• Buy SMH slightly over 237.4 target 258.67 stop loss @ 236.71 Details

The technical summary data tells us to buy SMH near 237.4 with an upside target of 258.67. This data also tells us to set a stop loss @ 236.71 to protect against excessive loss in case the stock begins to move against the trade. 237.4 is the first level of support below 243.7 , and by rule, any test of support is a buy signal. In this case, support 237.4 would be being tested, so a buy signal would exist.

• Short SMH slightly under 258.67, target 237.4, stop loss @ 259.42 Details

The technical summary data is suggesting a short of SMH as it gets near 258.67 with a downside target of 237.4. We should have a stop loss in place at 259.42though. 258.67 is the first level of resistance above 243.7, and by rule, any test of resistance is a short signal. In this case, if resistance 258.67 is being tested, so a short signal would exist.

Swing Trading Plans for SMH

• Buy SMH slightly over 258.67, target 280.4, Stop Loss @ 257.92 Details

If 258.67 begins to break higher, the technical summary data tells us to buy SMH just slightly over 258.67, with an upside target of 280.4. The data also tells us to set a stop loss @ 257.92 in case the stock turns against the trade. 258.67 is the first level of resistance above 243.7, and by rule, any break above resistance is a buy signal. In this case, 258.67, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short SMH slightly near 258.67, target 242.94, Stop Loss @ 259.42. Details

The technical summary data is suggesting a short of SMH if it tests 258.67 with a downside target of 242.94. We should have a stop loss in place at 259.42 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 258.67, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for SMH

• Buy SMH slightly over 258.67, target 280.4, Stop Loss @ 258.07 Details

If 258.67 begins to break higher, the technical summary data tells us to buy SMH just slightly over 258.67, with an upside target of 280.4. The data also tells us to set a stop loss @ 258.07 in case the stock turns against the trade. 258.67 is the first level of resistance above 243.7, and by rule, any break above resistance is a buy signal. In this case, 258.67, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short SMH slightly near 258.67, target 242.94, Stop Loss @ 259.27. Details

The technical summary data is suggesting a short of SMH if it tests 258.67 with a downside target of 242.94. We should have a stop loss in place at 259.27 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 258.67, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Vaneck Vectors Semiconductor Etf (SMH) available here: SMH.

SMH Ratings for July 29:

Term →	Near	Mid	Long
Rating	Weak	Weak	Strong
P1	0	0	237.4
P2	232.29	231.44	258.67
P3	239.88	242.94	280.4

AI Generated Signals for SMH

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This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Vaneck Vectors Semiconductor Etf (NYSE: SMH) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for SMH can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.