SMH Volatility Dries Up Near $406.37, Direction TBD
Shares of Compagnie Generale des Etablissements Michelin SCA (SMH) declined 1.37% to $406.37 on March 2.
From a technical standpoint, the outlook appears bearish:
Momentum
RSI at 51.2 is in neutral territory but trending lower. MACD is bearish (6.22 vs signal 6.93).
Moving Averages
Mixed signals with price near the 9-day EMA ($412.46). The 21-day EMA sits at $407.62.
Volatility
Volatility has been compressing for 19 sessions (TTM Squeeze active), often a precursor to directional moves.
Traders are watching $385.94 on the downside and $427.63 on the upside.
