SMCI LONG
Updated
Bullish Context: Monthly uptrend, weekly uptrend
Price Position: Near last month low
Pattern: price has shaped daily uptrend (higher low and higher high); weekly higher low is set
This is an opportunity for LONG play with profit target near previous month high. In order for this setup to work price must first break through synthetic diagonal resistance; in case of pullback bulls must protect last daily low (881)
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.
Price Position: Near last month low
Pattern: price has shaped daily uptrend (higher low and higher high); weekly higher low is set
This is an opportunity for LONG play with profit target near previous month high. In order for this setup to work price must first break through synthetic diagonal resistance; in case of pullback bulls must protect last daily low (881)
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.
Note
Buyers were able to break through diagonal resistance. Day closed weak but not as weak as it could be if sellers were strong. If tomorrow opens above 950 and price holds this will be a signal for buyersNote
Today closed bearish but value zone overlaps with previous day's value. This is bullish sign. Order cancelled
major price gap down open on the news about Q3 results anouncement
Disclaimer
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