Bullish Semiconductor Index Breakout

about 1 month ago

Gary Davis

"Another important chart, and this is a really classic bullish pattern here, is SMH, the semiconductor index. We've had a breakout, a few weeks of undecided price action, bit of backwards and forwards, then retested the breakout. And now the last three weeks, we've had a really hard bounce off that retest. So breakout, retest, and then go hard from there is a very, very good sign for semiconductors."

The speaker highlights a technical breakout and strong bounce in the SMH semiconductor index, suggesting that semiconductor stocks are on a solid bullish trajectory. This commentary is intended as investor color to underline the positive technical outlook which often correlates with broader market strength.

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