$SUPER MICRO COMPUTER INC(SMCI)$ 6th straight day of lower lows and on track for longest losing streak since Sep 2022
Based on chart: Bearish
Descending Triangle Pattern: There's a descending triangle pattern forming, which is generally a bearish signal. This is characterized by a series of lower highs (indicated by the red downward-sloping trendline) and a flat support level around the 786.28 mark.
Support and Resistance Levels:
Key support levels can be observed around 786.28 and 682.5861, while resistance levels are around 834.8018 and higher.
but but institutions are buying refer the screenshot with change in institutions position based on current fillings
my play --> Expecting > 834 before earnings release will buy if price falls to 725
Modify on 2024-07-23 20:47
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Sell before it's too late. Just look at the chart. Next stop $400
All it needs a good strong earning and demand guidance
If the current support does not hold, the last support will be around 670. Once that is breached, god help us. Back to to 340 it goes.
Only reasons this is down is due to limited float, will do very well over the coming days and run up to earnings and beyond.
I think a fair price for this stock is between $290 - $320
This is easy money, fundamentals and growth are amazing here. wait
Reached the target of 725🙏