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Short Trade Alert: Semiconductor ETF Slams Into Resistance

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ITMS Member Level  Thursday, 04/12/18 01:53:47 PM
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Short Trade Alert: Semiconductor ETF Slams Into Resistance

Shares of the semiconductor ETF $SMH slammed into major support today at $105.10. After a solid bounce, the semi's are likely ready to roll over heard and begin their next leg lower. The resistance point is found by noting the neck-tie of the 20 and 50 daily moving averages. This is huge resistance, coupled with a Fibonacci 38.2% retrace from the all-time high to the recent low. Investors can start accumulating short positions on semiconductor stocks or buy the $SOXS as a triple short ETF on the semiconductor sector.





Gareth Soloway
InTheMoneyStocks

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