$SMH - Head and shoulder break down

1 Jul 2022

SMH has been in down trend from head & shoulder breakdown. The next support point would be around $177 which is 1.618 fib extension area as well as head and shoulder measured move projection. If $177 area doesn't hold we could see $151 area which is the pre-pandemic high area. The worst case is $108 which should be absolute bottom if we reach there.
Target 1 - $177
Target 2 - $151
Target 3 - $108 (absolute worst case like China invades Taiwan kind of situation)

Disclaimer - Not an investment advice.