There's still opportunity if pullback for SMCI
$SUPER MICRO COMPUTER INC(SMCI)$ - Update (Not positioned, but there's still opportunity if pullback)
Not positioned from yesterday's semicon group gap up. It open at almost 4.7 x ATR% from 50-MA and most of its entire range was traded within 45mins post open, and remaining session was just price drift. This explains the lowly traded range of 66% from LoD ATR.
I am shifting this down from focus list to stalk list as both $VanEck Semiconductor ETF(SMH)$ and $iShares Semiconductor ETF(SOXX)$ are currently trading at their individual extension of historical ATR% multiple from 50-MA, there could be further opportunity for SMCI to pullback into gap range and re-setup within it.
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