SMCI trade ideas
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.
SMCI clears advanced pivot within 1st stage double bottomSMCI was one of our favorite picks from the free excerpt of the Ready List this weekend. Of the 38 setups in primary bases this weekend, SMCI was ranked #20 overall with a Stock Evaluation Guide score if 8.75. Today it broke out from the advanced pivot at 34.46 on heavy volume and closed near the top of its trading range. From here, for the move to continue smoothly we’ll want to see it hold 33. All of the major moving averages (10, 21, 50, and 200) are all clustered around this area.
SMCI appeared as one of the top 3 Gainers on heavy volume today on ChartYourTrade.com To see the others we've analyzed, click here: chartyourtrade.com
