Bullish on SMCI - Symmetrical Triangle Formation
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%+ move 🚀. On a side note, I'm expecting a stock split announcement and a killer earnings to catapult this thing. Hold on 💺
Note
Bearish breakout of the triangle angle today. I would steer clear from this stock until a confirmed up tread is noticeable. The bears have taken this one over for now.
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.