SMCI has formed a 5 month consolidation rectangle and is about to break out.
This setup is similar to Nvidia one which we had a couple of weeks ago.
SMCI just raised their Q2 forecast this morning.
Semiconductor sector is very strong at the moment.
Pure momentum play here.
Initial target is at 450.
This setup is similar to Nvidia one which we had a couple of weeks ago.
SMCI just raised their Q2 forecast this morning.
Semiconductor sector is very strong at the moment.
Pure momentum play here.
Initial target is at 450.
Note
SMCI train has left the station!Note
Sold half of my positions at 472 yesterday.Had a really good run so far. Moved stops to 399 for now.
Just something to ponder upon, Nvidia is trading around 22-23 Price to Sales.
SMCI is only around 3 for Price to Sales. There should be more upside in here.
Trade closed manually
Banking in some good gains.Will wait for another setup to good in.
Note
SMCI will be kissing the 10 Day EMA tonight.Will be interesting to see price action from that point onwards.
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.
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.