SMCI - Not a hold, possibly buying opportunities with structure
SMCI is in a clear downtrend and extremely forceful one, even with this small recovery I would not consider a long till $600+
Potential bearish scenario with recovery could also have the price much lower so please give this stock time with the market.
Potential bearish scenario with recovery could also have the price much lower so please give this stock time with the market.
Note
Also wait for local cups to be built and cups to be completed before even entertaining a long.Note
Breaching +$600 would form a very bullish recovery cup, but this means a no buy zone until then, likewise if we went lower I would wait till structure is developed.
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