Are Semiconductors (SMH) Nearing Cup With Handle Breakout?

The Semiconductors Sector ETF (SMH) has been a market leading sector for nearly two decades.

And after a brief swoon, the Semiconductors (SMH) are heating up once again.

Today’s chart is a long-term “monthly” view of the SMH. As you can see, this market leading sector has been in an uptrend channel for the past 20 years!

After a brief pullback into 2022, the Semiconductors have come back with renewed strength to test the 361% Fibonacci extension level once again at (1). Better yet, a potential bullish cup and handle pattern has formed… and a breakout at (1) would send a quality bullish message from market leadership.

Time for stock bulls to rock n roll? Stay tuned!

$SMH Semiconductors Sector ETF “monthly” Chart

smh semiconductors etf bullish cup with handle pattern formation chart november

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Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

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