SMCI held up wonderfully on the QQQ sell-off on Thursday, demonstrating relative strength on the daily chart. Long from $888, which was the intraday VWAP on Thursday, the middle of the four-hour 100 linear regression channel, as well as the weekly 20 SMA. Next week, there is room to recently weekly highs of $1000, followed by the weekly upper Bollinger Band at $1090 on continuation. NDX and NDXE inclusion on 7/22/2024 should provide a bullish catalyst this week, and Super Micro Computer may also be a candidate for a stock split like NVDAAVGO and MSTR
Trade closed: target reached
SMCI was closed on the push to the upper daily Bollinger Band around $950. All positions are managed with a breakeven stop after reaching an initial target.
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