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Semiconductors Trigger Buy Signal With Cup and Handle Breakout.

Published 24/01/2024, 20:51
Updated 09/07/2023, 11:31

SMH-Monthly Chart

Not too long ago, we wrote about a potential cup with handle breakout for the market-leading VanEck Semiconductor ETF (NASDAQ:SMH)

Today, we examine a “monthly” chart of $SMH to provide an update on that powerful price pattern.

As you can see, a breakout has taken flight at (1).

The breakout looks pretty bullish, after 2-years of forming the top of the cup with a handle pattern.

Note that the “handle” formed at the 361% Fibonacci extension level, highlighting the power of Fibonacci levels and the power of the pattern! Stay tuned.

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