How the (SMH) price action is used to our Advantage

March 20, 2024, 05:20 am ET, BY Billy- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for SMH

• Buy SMH slightly over 214.8 target n/a stop loss @ 214.18. Details

The technical summary data tells us to buy SMH near 214.8, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 214.18 to protect against excessive loss in case the stock begins to move against the trade. 214.8 is the first level of support below 217.8, and by rule, any test of support is a buy signal. In this case, if support 214.8 is being tested, a buy signal would exist.

• NONE . Details

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for SMH

• Buy SMH slightly over 223.18, target n/a, Stop Loss @ 222.54 Details

If 223.18 begins to break higher, the technical summary data tells us to buy SMH just slightly over 223.18, with an upside target of n/a. The data also tells us to set a stop loss @ 222.54 in case the stock turns against the trade. 223.18 is the first level of resistance above 217.8, and by rule, any break above resistance is a buy signal. In this case, 223.18, 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 223.18, target 214.8, Stop Loss @ 223.82. Details

The technical summary data is suggesting a short of SMH if it tests 223.18 with a downside target of 214.8. We should have a stop loss in place at 223.82 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, 223.18, 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 218.14, target 223.18, Stop Loss @ 217.63 Details

If 218.14 begins to break higher, the technical summary data tells us to buy SMH just slightly over 218.14, with an upside target of 223.18. The data also tells us to set a stop loss @ 217.63 in case the stock turns against the trade. 218.14 is the first level of resistance above 217.8, and by rule, any break above resistance is a buy signal. In this case, 218.14, 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 218.14, target 214.8, Stop Loss @ 218.65. Details

The technical summary data is suggesting a short of SMH if it tests 218.14 with a downside target of 214.8. We should have a stop loss in place at 218.65 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, 218.14, 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 March 20:

Term →	Near	Mid	Long
Rating	Weak	Strong	Strong
P1	0	0	178.48
P2	214.38	213.38	196.01
P3	218.14	223.18	214.8

AI Generated Signals for SMH

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Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Vaneck Vectors Semiconductor Etf (NYSE: SMH) data table below can help you with price action, and we have more details too. Trading plans for SMH are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.