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SMH, a semiconductor sector ETF, has declined by 16 percent over the past two weeks, with the relative strength index (RSI) at 33 and the price nearing a key support level.
Jonah Lupton, identified as an investor and market commentator, added that SMH needs to close above 538 to confirm a potential bounce.
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Lupton has previously highlighted individual semiconductor firms, noting SK Hynix's strong net income projections and $50 billion cash position. In recent commentary, he also cited Marvell's updated $20 billion revenue forecast for fiscal 2028 driven by growth in connectivity. Both companies remain active in sector developments as the broader ETF retests key support levels.