SMI (SMI.CH)

Short term

SMI has broken through the floor of a rising trend channel in the short term. This indicates a slower rising rate at first, or the start of a more horizontal development. The index has met the objective at 11812 after the break of the rectangle formation. The price has now risen again, but the formation indicates a further fall. The index is between support at points 11900 and resistance at points 12000. A definitive break through of one of these levels predicts the new direction. The index is overall assessed as technically slightly negative for the short term.

Recommendation one to six weeks: Weak Negative (Score: -26)

Medium term

SMI has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The price has reacted back after a false break of the double top formation. A significant penetration of 11908 will again give new negative signals to the index, while a break of the opposite side of the formation will be a strong positive signal. The index is approaching support at 11850 points, which may give a positive reaction. However, a break downwards through 11850 points will be a negative signal. The index is overall assessed as technically neutral for the medium long term.

Recommendation one to six months: Hold (Score: -10)

Long term

SMI has broken the floor of the rising trend channel in the long term, which indicates a weaker initial rising rate. The index is moving within a rectangle formation between support at 10556 and resistance at 12565. A decisive break through one of these levels indicates the new direction for the index. The index has support at points 11500 and resistance at points 12500. The index is overall assessed as technically slightly positive for the long term.

Recommendation one to six quarters: Weak Positive (Score: 29)