Volatility Contraction Sets Up SMH Move Near $545.22
Compagnie Generale des Etablissements Michelin SCA (SMH) closed down 2.05% at $545.22 on September 2.
The technical setup looks bearish:
Moving Averages
Bearish EMA structure persists with price below the 9-day ($557.72) and 21-day ($563.51).
Momentum
RSI at 42.2 is in neutral territory but trending lower. MACD reads -5.72 against its -4.30 signal line (bearish).
Volatility
A 5-day TTM Squeeze suggests volatility is coiled and a breakout may be imminent.
Traders are watching $540.39 on the downside and $595.82 on the upside.
