Pullback Risk Rising for SMH at $637.90
Shares of Compagnie Generale des Etablissements Michelin SCA (SMH) rose 0.90% to $637.90 on June 4.
Key indicators suggest a bullish bias:
Moving Averages
Bullish EMA alignment intact with price above the 9-day at $605.14 and 21-day at $574.21.
Momentum
RSI at 77.9 is elevated in overbought zone, which often precedes pullbacks. MACD is bullish (33.96 vs signal 31.49).
Volatility
Price is extended above the upper Bollinger Band ($633.15), suggesting possible mean reversion.
While the trend remains bullish, elevated RSI warrants caution for new entries at current levels.
Key levels to watch: Support at $524.29, Resistance at $633.15.
