$SUPER MICRO COMPUTER INC(SMCI)$ Weekly. Nice day trade here. If you're long, take a good look at this. That volume profile is textbook distribution. Ever hear 'retail always buys the top'? This is what it looks like. That's Wall Street dumping their positions on the retail investment community. Days are used to draw in liquidity (buyers for them to sell to). Best bet for longs is an upthrust after distribution (UTAD). Unlikely IMO as the Apr 22 low already broke 'the ice'. Watch the diagonal demand line. If it loses that, all hell will break lose.
I'll answer serious questions. Trolls will be blocked.
Good luck either way. No current position.
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- KSR·06-17👍LikeReport