$SMCI - RC -
Added 2023-07-14 10:40:34 +0000 UTC$NVDA is not alone here in this parabolic bubble, $SMCI has followed the same course and unlike $NVDA, $SMCI's fundamentals are perfectly fine, with a PE of 27 and a FWD PE of 27. Trading below its markets standard premium ratio right now.
We can see on the chat that Wave 1 started as leading diagonal, and the moment this broke out of the channel it took off, bursting through all our Fib levels, with only slight breathers are each important Fib support/resistance level.
Of course this needs to slow down and pull back but I think this will go higher if it can pull back to $230 comfortably.
But like $NVDA right now, it will only pull back when it is ready, people are buying and Micro chip stock in 2023 is $TSLA $2020 stock right now.
