$SMCI
Added 2024-10-08 12:13:42 +0000 UTC$SMCI is moving strong again today in the PM and the price has just gone above the 0.618 Fib at 49, where the 50 Day MA is waiting.
This is therefore a confluence level then, a hold above this level at $50 and there is a move up to the 200 Day MA $70 here
I have said a few times now that if $SMCI can convince the market that an appropriate audit has been done on their books then there could be a V shape recovery here and $70 could hit at the very least in the short term.
FWD PE is low at 10 now.
There is risk here, so holding above $50 is vital to see first.
