$SMCI
Added 2024-07-29 16:48:12 +0000 UTC$SMCI is at the very interesting spot right now.
Semis have sold off over the last 2 weeks and are relatively flat today but we can see here on the $SMCI chart that there was a large flush down on Thursday which came close to the 200 Day MA and the 0.5 Fib and has held so far while the market reassess its position leading into more important earnings releases.
If the Mega Caps beat well this week, the market could continue higher and Semi's could follow....$SMCI would likely benefit from this, especially at this level testing a confluence level.
A weak run of reports and $SMCI can move down to test the next lower support level at the 0.618 Fib at $490, which would be the same level as $AMD if it tests $120.
Both companies I like and both have the same set up right now.
