SMH Due for Rest After Push to $598.93
Compagnie Generale des Etablissements Michelin SCA (SMH) retreated 0.15%, ending the session at $598.93 on June 1.
Chart analysis reveals a bullish configuration:
Moving Averages
Bullish EMA alignment intact with price above the 9-day at $583.21 and 21-day at $556.76.
Momentum
RSI at 71.0 is elevated in overbought zone, which often precedes pullbacks. MACD is bullish (30.48 vs signal 30.42).
Volatility
Bollinger Band width at 19.5% indicates normal volatility.
The bullish trend is intact, but overbought momentum readings suggest waiting for a pullback.
Watch $507.14 as support and $616.43 as resistance.
