The Long Investor

$SMCI

Added 2024-08-19 11:33:44 +0000 UTC

I believe many people believe that $NVDA has another leg up and if they post a powerful earnings, they may get it but $NVDA's pull back only came down to its 0.38 Fib which is shallow, so by all accounts, I don't think they have completed their ABC correction

$SMCI, $AMD and $DELL have all hit exactly at their 0.618 Fib support levels for their ABC correction, which is perfectly standard, so these three are out of sync with $NVDA right now....which is always something I like to see

If $NVDA does move higher, they will bring the sector higher with it.....which is also why we added $AMD at $135.

Big test coming up for all three of these positions and that is flipping the 200 Day MA to support at $674, $AMD and $DELL need to do the same

But I would prefer to be in these positions right now then taking a gamble on $NVDA, my personal choice.