SMH Elliott Wave Analysis – Trading Lounge Daily Chart

VanEck Semiconductor ETF (SMH) Daily Chart Analysis

SMH Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave iii of (iii)

DIRECTION: Upside in wave (iii)

DETAILS:
The VanEck Semiconductor ETF (SMH) is currently progressing in a strong impulsive pattern, showcasing a series of higher-degree wave threes and fours. As it approaches the $250 price level, the bullish trend remains intact. The next major resistance is anticipated around TradingLevel3 ($300), aligning with the continuation of wave (iii)'s upward momentum. This wave formation reinforces the current bullish outlook.

VanEck Semiconductor ETF (SMH) – 1H Chart Analysis

SMH Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave 5 of iii

DIRECTION: Upside in wave iii

DETAILS:
On the 1-hour timeframe, SMH is finalising micro wave 5 of wave iii. Provided the wave structure does not truncate, there remains potential for additional upside in this last phase of the impulse. A corrective move in wave IV is likely to follow before wave V resumes the overall uptrend.

Technical Analyst: Alessio Barretta

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Analysis Summary:

This Elliott Wave review of SMH indicates a dominant impulsive uptrend in both daily and intraday charts. The daily analysis points toward a move targeting the $300 level, while the 1-hour chart signals short-term gains through micro wave 5, with a brief corrective phase expected afterward. Traders are advised to watch for short-term reversal signs near local highs and prepare for continued upward action after corrective pullbacks.