Blue Chip Daily Chart of the Week:
VanEck Semiconductor ETF (SMH)
Stop level for position traders and investors: 212.44
please see chart analysis below
- Van Eck Semiconductor ETF (SMH) is one of our top technical ideas coming into the week and is on this week’s Members Best Ideas ETF List.
- SMH is trading above the 20, 50, 100 and 200-day moving averages, and reclaimed the 10-week MA on Friday, a bullish technical signal.
- SMH has closed up for the last three weeks, with increasing daily and weekly volume over that period.
- SMH recently pulled back 16.4% off of all-time highs and held at the rising 100-day moving average.
- Semiconductors are one of our top rated tech industries coming into this week and we have two semiconductor stocks on this week’s Members Top 25 list. https://bluechipdaily.com/members/this-weeks-best-ideas-list/
- We have avoided most of the high growth stock sell off, as I closed out many tech and growth positions at higher prices on the Members site between February 23 – March 5, (screenshot below).
- I also took any growth stocks off of our Focus List which broke down below their 50-day moving averages, starting on February 23, which has helped us and Blue Chip Daily Members avoid holding onto or buying into downtrends, (screenshot below).
- We have continued to stay focused on high quality uptrends and recent Top 25 Buy List stocks AMAT, CAT, DE, DRI, HPQ, LB and others, have recently broken out to new highs.
- Our recently updated Top Performers page: https://bluechipdaily.com/top-performers/
Have a great week,
Disclaimer – Blue Chip Daily Trend Report
2/22 & 2/23 BOOKING GAINS AND RAISING PROFIT STOPS.
2/22 GROWTH/TECH STOCKS TRADING BELOW THE 50-DAY MOVING AVERAGE OFF THE POTENTIAL BUY LIST.