SMCI has been on a parabolic bullish move since Start of 2022
It always makes a new highs then establish it as a resistance level , test it multiple times then move on to the new breakout
Right now it is on a new resistance level i.e 118 and it can come back to test either 104 or 94 support levels. After retesting 104 or 94 it will make another bull move making a new high
Wait till Support level retesting and then make an entry
PS : its currently forming a triple top pattern which is not complete yet . if completed then there is a slight chance that it will definitely come back to 94-96 levels for the previous strong support retest
It always makes a new highs then establish it as a resistance level , test it multiple times then move on to the new breakout
Right now it is on a new resistance level i.e 118 and it can come back to test either 104 or 94 support levels. After retesting 104 or 94 it will make another bull move making a new high
Wait till Support level retesting and then make an entry
PS : its currently forming a triple top pattern which is not complete yet . if completed then there is a slight chance that it will definitely come back to 94-96 levels for the previous strong support retest
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.