Monday, February 9, 2009

Chart of Interest - SMH

SMH - 2009-02-08 225533 - 1d

SMH - 2009-02-08 230050 - 1d

What I see?

  • A Cup and Handle formation
  • Pivot Points at $19.16 level
  • Gap-Resistance at $23.00, which could also be an even number resistance as well
  • Possible Long entry if prices close above the $19.16 level
  • However, R factor is not favorable if the Stop is set to $16.00

Action Item(s)?

  • None for now

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