Semiconductors ETF Reaches Do-or-Die Moment at Critical Price Support
SMH
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We have spent countless hours highlighting the consequences of a turn lower in the tech-leading Semiconductors. It’s been nearly a year, and the semiconductors sector has endured quite a fall.
Can the bulls still swoop in and save the Semis? If so, it needs to happen soon.
Today, we look at the long-term monthly chart of the VanEck Semiconductor ETF (NASDAQ:SMH). And, as you can see, it’s been a rough go the past 12 months, with the Semis losing nearly a third of its value.
SMH Monthly Chart
More important, though, is that $SMH is testing 6-year rising support at (1). In fact, it’s spent parts of the
In my humble opinion, it is critical for leadership to hang on to support here, as the next support level is a long way down. Stay tuned.
