$SMH - Can 200DMA save it?

SMH On August 12, I posted that SMH could be forming a head and shoulders pattern. Fast forward to today, it is close to forming the right shoulder.

However, can the 200DMA, which has previously provided support, save it from breaking down? It remains to be seen.

Like any pattern, a Head and Shoulders can be invalidated if it fails to break down below the neckline.

As always, I share my opinions and trades. I'm not suggesting anyone follow my trades. You do you.