- VanEck Vectors Semiconductor ETF (SMH) soared to yet another record high amid a global supply shortage in semiconductors.
- Robust earnings growth, which is expected to accelerate on ever-rising demand, has justified the remarkable bull run in SMH.
- Technically, SMH has closed above its 50-week Bollinger Band for 15 straight weeks, which signals historically overbought conditions.
- SMH could be the next target of a retail buying frenzy based on the recent surge in search interest in semiconductors.
- Strong fundamentals and buying pressure suggest melt-up in SMH has more room to go.
For further details see:
SMH: Semiconductors Could Be Next Buying Frenzy Amid 'Supply Squeeze'