SMH Coils in TTM Squeeze at $600.31, Breakout Imminent
Compagnie Generale des Etablissements Michelin SCA (SMH) closed up 2.51% at $600.31 on July 15.
Chart analysis reveals a bearish configuration:
Momentum
RSI at 49.2 is showing no strong directional bias. MACD reads 0.70 against its 6.44 signal line (bearish).
Moving Averages
Bearish EMA structure persists with price below the 9-day ($603.20) and 21-day ($607.17).
Volatility
Stock has been in a TTM Squeeze for 20 days, indicating compressed volatility and potential for a significant move.
Watch $571.37 as support and $667.56 as resistance.
