2017-06-17 - Supermicro - Neutral Opinion but with a Buy in mindI want to go long on Supermcrio.
BEARISH:
The downtrend (red line) is still in effect so I am standing at the side.
The short interest on the stock is around 9%, which I consider to be a safe value.
BULLISH:
Over the last weeks the average volume has increased compared the volume before earnings.
This shows that interest in the stock has increased and a breakout may be coming soon.
The purple trendlines indicate that an uptrend is beginning, the stock seems to be no longer making lower lows!
ACTION PLAN:
If there is a retest under 24, I will buy and hold, with a mental stoploss at 23.
If however the stock moves above 26 I will buy the pullback.
