$SMCI
Added 2024-03-19 14:20:10 +0000 UTC$SMCI is doing an equity sale to free up $2 Billion, which is by far the smartest move the company can make to take advantage of such a strong rise to their share price, it looks like this sale has triggered the top too, so their timing has been impeccable.
Wave 5 looks to be complete now at the 3 Fib, which is extended territory and as we know, anything above 2.618 is extended and a pull back can come back at any stage here.
I have added in the amber Fib levels to show where support can come, I would watch for the 0.38 Fib for Wave A to complete.
Buying $SMCI below the 0.5 Fib at $631 would be an attractive buy for me,
