SMH fails to break through resistance

SMH rallied to key resistance and failed to break through. Gapped down next trading day. Looking to make another attempt at the resistance.

  • SMH gapped down with volume after failing to break through
  • started to recover as smart money took over in later day trading
  • RSI is now below its SMA smoothing line


If this pattern holds trying to break through we may not see selling off with volume until we reach trend support

Oscillatorsrsi_divergenceSMHSupport and Resistance

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