SMCI bounce
SMCI technicals are oversold, so I'm looking for a bullish bounce. If you take a look at it's stochastic value on the 1 day chart, the fast moving line is waiting to cross over the slow moving line. This can point to a bullish reversal in the near future. Also, as far as positioning, SMCI price is sitting at a major support level on the Triangular trend channel ATR indicator. SMCI ATR is 50, so it can move in wide range depending on the day. I know that SMCI has a lot of bad news factored into it's bearish price action lately. So this could be a big risk or big reward trade depending on what the market decides to do going forward here. But it is worth taking a look at the opportunity in my opinion.
4:1 ratio reward : risk trade idea
entry = 390
stop = 360
profit = 530
9/20 expiry options data:
Put Volume Total 2,155
Call Volume Total 3,801
Put/Call Volume Ratio 0.57
Put Open Interest Total 29,545
Call Open Interest Total 60,080
Put/Call Open Interest Ratio 0.49
10/18 expiry options data:
Put Volume Total 1,601
Call Volume Total 1,589
Put/Call Volume Ratio 1.01
Put Open Interest Total 25,669
Call Open Interest Total 33,340
Put/Call Open Interest Ratio 0.77
11/15 expiry options data:
Put Volume Total 167
Call Volume Total 663
Put/Call Volume Ratio 0.25
Put Open Interest Total 15,190
Call Open Interest Total 17,048
Put/Call Open Interest Ratio 0.89
Comment
4hr Stochastic is rolling over. Might go down to 380Comment
Comment
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