SMH is trading at $218.43, down 9.10% for the week. Price has breached the upward trendline support, indicating potential further downside. Key Levels:
Immediate support is expected around $199.15. Further support levels are $172.35, $155.65, and $136.10. Resistance Levels:
Resistance is at the broken trendline near $240, followed by the recent high around $300. Relative Strength Index (RSI):
RSI is at 53.98, trending downwards, suggesting weakening momentum. Volume:
Volume is significant at 75.462M, indicating strong selling pressure.
Conclusion: SMH's breakdown below key support levels and significant bearish momentum suggest further downside potential. Watch for reactions around $199.15 and $172.35 for potential entry points or further declines.