The Long Investor

$SMCI - IMPORTANT NOTE -

Added 2024-05-02 09:41:29 +0000 UTC

Charts mainly move up and down due to human psychology in the short term, impulse waves move aggressively and parabolically as the masses chase the popular sector and the newest hype but likewise, when a chart runs 300-400% which is incredibly impressive over a very short period, like what happened here.....then there will ALWAYS be profit taking....people want to lock in their gains. The mental toll this takes on people to lose these gains is fair heavier than waiting to see if this can go higher.

This is EWT, people buy and sell on their assumptions on what is good value or not.

Overtime it comes down to revenue and free cash flow, but strong moves in the short term need to be backed up by incredible earnings.....like we saw with $NVDA in 2023....which is extremely rare.

$SMCI is in its corrective wave now after completed our Wave 5 in March as expected.

Wait for the levels between the 0.5 Fib and 200 Day MA to consider a position here.