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Super Micro Computer, Inc.
Long

SMCI: Call Buying Into Wave 2 of Larger 3

Di FiboTrader1
SMCI has sold off aggressively in the last few weeks and I see that Wave 1 of larger 3 is complete. I'm expecting a hard wave 2 bounce next week to 627, then reject before filling the gap at 667. At that point I will be buying PUTS.

PT1 627 PT2 667
Nota
WAVE 2 of 3 should finish at the bottom of larger Wave 1 at 671 April 22.
Nota
Another thing to note is the inverted hammer candle on the weekly (bullish)
Nota
planning on closing out today if SMCI hit 580. Seeing too high of a RSI atm and expecting a possible pullback
Nota
sold at 583 which was 1.618 fib retracement from todays breakout on the 5 min chart
Chart PatternsTechnical IndicatorsWave Analysis
FiboTrader1
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