This stock has been beat down this year due to declining revenue. Who cares about fundamental though?? As you can see from the chart, it has formed a very nice island bottom on the Daily, at what looks to be the end of a downtrend. I entered a long position @ $1.75 with a stop at $1.65.
Top level resistance of the island is @ $1.97. RSI is getting stronger @62,...
SMCI looks has clearly formed a symmetrical triangle. I expect a triangle breakout at earnings or possible before earnings if really good news is expected. Because this is a symmetrical triangle, you have to play the direction of the breakout. Have a tight stop loss at 800 and prepare for take off to retest $1220 💰. If this breaks out bullish, this will be a 45%+...
As you can see, we have a nice cup and handle chart pattern. The cup base looks pretty strong at 12 weeks of formation. I'm expecting an entry at $3.89 if the vol is greater than 4M. I predict this stock will run up within the next couple of weeks. I'm expecting to take profits around $4.75 but I wouldn't be shocked if price runs up to 5.10 on really strong vol....
