SMH ETF trader tip: Using the charts, Technical Traders goes over the Technology Sector SMH ETF’s recent runs and price actions. We’ve seen a big run-up from the Covid lows back in March. During this time choppy price action occurred indicating a bull flag formation or a running correction to the upside.
The charts are pointing to dramatically higher prices for the Technology Sector. We’ve definitely seen a shift as of last week with the new covid strain. Money flowed out of energy and financials and global transportation is now facing the potential, or worse the reality of locking down once more. Using Fibonacci extension to gauge a 100% measured move, the Technology sector could potentially be acting as a safe haven based on recent price actions.
TO LEARN MORE ABOUT SMH ETF – WATCH THE VIDEO
ubscribers: Please let us know what you would like to learn and we will add it to the roster of our weekly Technical Trader Tips!
Non-subscribers: Please enjoy these micro-lessons as a way to further your education and understanding of how a technical trader…well…trades!
TO EXPLORE THE DIFFERENT TRADING STRATEGIES CHRIS OFFERS, PLEASE VISIT US AT THE TECHNICAL TRADERS. YOU’VE GOT MORE TO GAIN THAN TO LOSE WHEN SEEKING INFORMATION!
Disclaimer: None of this material is meant to be construed as investment advice. It is for education and entertainment purposes only. The video is accurate as of the posting date but may not be accurate in the future.
