There are many complex charts of SMCI on here, I like to keep it simple.
This stock has the potential for gains of 100 - 200 %, but only if there are good news in the next few weeks. As long as there is uncertainty about their accounting and Nasdaq listing, this is a gamble and it could go to 0.
Also considering that the indices are at an ATH and struggeling, I am just observing for now.
From a TA perspective price is still in a falling channel, has gone up in 5 waves and corrected. Therefore a wave 1 and 2 could be in place and next could be a wave 3 to 80$+.
Price is also trading within the lower Fib extensions.
Patience is key here. Better miss some gains than loose it all.
This stock has the potential for gains of 100 - 200 %, but only if there are good news in the next few weeks. As long as there is uncertainty about their accounting and Nasdaq listing, this is a gamble and it could go to 0.
Also considering that the indices are at an ATH and struggeling, I am just observing for now.
From a TA perspective price is still in a falling channel, has gone up in 5 waves and corrected. Therefore a wave 1 and 2 could be in place and next could be a wave 3 to 80$+.
Price is also trading within the lower Fib extensions.
Patience is key here. Better miss some gains than loose it all.
Note
with the drop this morning, the fib extensions fit better than in the chart above. This could be the bottom if earnings turn out positive. Note
+27% in two days and now right at the boundary of the channel. Break out or break down ?Note
well that breakout happened, but this is all speculation. They could have released updates on their accounting and Nasdaq compliance issues at any time. No need to wait until earnings. They didn't. Note
tomorrow is the day, 80$ or 5$ ?Note
well, they published the reports just hours before the deadline. Might be enough to keep the NASDAQ listing, but as an investor I don't like such behaviour. Price doesn't look like investor excitement either. Entire market about to correct, so expecting more downside here. The Elliott wave pattern is broken if it falls below 44$. Note
perfect example of buy the rumour, sell the news. Can we see a retest of the channel at 25 $ ?Note
Adjusted the channel a bit, this fits better. Breakout with retest and now accumulation ? Still a bullish setup.Note
what looked like a bullish trend a week ago turned into a bear flag. Still trading from one Fib level to the next. A retest of the channel and Feb 3rd low at 25$ might be the plan here...Note
bullish channel ?Note
back in the channel, ready to go ?
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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.