Hi traders,
It appears that SMCI presents a favorable opportunity for shorts over the course of multiple days.
reasons
1. $92-$95 is a huge selling area.
2. The presence of a Gravestone Doji candle in today's market suggests a potential short-selling opportunity. This pattern often indicates that the sellers have taken control of the trend during the intra-day trading period.
3. Volume is trending down, which possibly means buyer exhaustion.
4. The underlying fundamentals seem to support this view, as the bond yield curve has contributed to a decline in the market today. Furthermore, the trend of major indices such as the SPY and QQQ has shifted to a bearish outlook as of today.
*The stock itself got a great analyst rating and the company is in the growth stage. I am expecting it may or may not, retract to T1 trendline.
It appears that SMCI presents a favorable opportunity for shorts over the course of multiple days.
reasons
1. $92-$95 is a huge selling area.
2. The presence of a Gravestone Doji candle in today's market suggests a potential short-selling opportunity. This pattern often indicates that the sellers have taken control of the trend during the intra-day trading period.
3. Volume is trending down, which possibly means buyer exhaustion.
4. The underlying fundamentals seem to support this view, as the bond yield curve has contributed to a decline in the market today. Furthermore, the trend of major indices such as the SPY and QQQ has shifted to a bearish outlook as of today.
*The stock itself got a great analyst rating and the company is in the growth stage. I am expecting it may or may not, retract to T1 trendline.
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.