The whole Semiconductor sector is flashing a hard sell signal. This comes from Friday’s topping tail that coincided with a major double top on the semiconductor ETF $SMH. The SMH has rallied from a low in March of $96.00 to its high Friday of $155.00. To have a topping tail form with such a beautiful extended chart is rare and a very strong sell. Add into that the double top and investors and swing traders have the makings of a beautiful short trade.
Look for the downside to be swift in the next few weeks. The first target on the SMH is $139.00 and the second target is $123.50.
A net gain of +994.01% through June 8th, 2020 is a reality for members of Verified Investing Alerts. For investors who want to maximize profits to an insane degree during the COVID-19 pandemic, swing trading technical chart setups using the PPT Methodology is easy and profitable. Swing trading using these methods allows smart investors to jump in at key levels and out for 10%+ gains in days. Master Trader Gareth Soloway has guided his members, actively swing trading stocks, using key technical levels for multiple profits of 10% almost every day (yesterday 3 winners of over 10% each). With the action in the equity markets, members are getting multiple trades a day (on average). See the VERIFIED track record HERE (scroll down on the page). Gareth consults for hedge funds but still helps average investors swing trade. Members get exact entry prices, stops, targets and daily videos that analyze the market, stock and current positions. The second Master Trader Gareth Soloway buys/sells a stock, members get a text/email alert to get them in/out of the trade in seconds. See how this trade based a Technical Analysis Double Top makes money! See the stock chart Boeing buy level below in the chart.