Anticipating The Rally In SMH

I posted a buy setup in SMH on Feb 20th. The trade wasn't triggered until the 15 minute or 30 minute chart had the 8/34 ema crossover to the upside, but once this occurred the stock saw a beautiful rally up to the recent high made at $239.14, which was a $45.42 rally from the cluster zone.

I can't say there was a graceful entry when this chart triggered due to the gap, but there was a lower risk secondary entry via the 30-minute chart at the 205-206 area. We saw a nice pullback into that cluster there before seeing a lower risk entry when we had the 2nd crossover.

That gave you a rally of $32.71 from the $206.43 swing low. We like these setups where all the key daily moving averages are on the same side....so this WAS what we call a royal setup.