SMH rallies to new highs with room to go

15 Ağu 2024

SMH rallied to new highs today and into higher trading area which originally appeared to be very overbought

• 1 hour interval shows both 10 and 20 RSI levels in overbought territory
  
• 2 hour interval shows 20 RSI having more room to grow.
  
• initially exited riskiest positions figuring on this new high being way outside the bounds of normal
  
• This is now looking to have some more room left in it.
  
• expect a small pullback or pullback in time over the next day or two.