Weak EMA Structure Weighs on SMH at $556.63
Compagnie Generale des Etablissements Michelin SCA (SMH) ticked higher by 0.64% to $556.63 on August 31.
Technical indicators paint a bearish picture:
Momentum
RSI at 46.1 is in neutral territory. MACD reads -4.71 against its -3.95 signal line (bearish).
Moving Averages
Price sits below both the 9-day ($560.85) and 21-day ($565.34) EMAs, suggesting short-term weakness.
Volatility
Volatility has been compressing for 4 sessions (TTM Squeeze active), often a precursor to directional moves.
The $543.83-$595.43 range defines near-term boundaries.
