SMCI.....Who is kidding whom were?
Hello Traders,
a wild ride for SMCI at the past week! Vola is back!
The massive buying-panic on Thursday`s session (`caused by the excellent earning @ Nvidia) has been sold on Friday!
My last count assumed a wave b upwards and a wave c to follow! I called this wave a "sucker-wave, `cause they try to lure traders to the wrong path! "B-waves" are kidding you, are looser waves! Be patient!
But what message did the last two candles carry in it self?
Thursdays candle was one with high vlume and a massiv gain, up to 30 % at the session. This is to much within a short time!
Friday`s session was the opposite of the day before. Selling pressure and weakening hands, including a "gap-down" at the opening!
The closing price on Friday was shy below Thursday`s open! So, if traders continuou the selling action, the target for this sell-off is at or around $588.- to 641.- range!
A technicly caused fresh buy-signal will occur at $1003.- on a closing basis daily!
We will see if this action is part of a wave 4 or if this is part of a wave 2 of high degree!
For a final conclusion I need more informations and traders action in the coming weeks ahead!
Have a great week.....
Ruebennase
Please ask or comment as needed.
Trading based on this analysis is at your own risk.
a wild ride for SMCI at the past week! Vola is back!
The massive buying-panic on Thursday`s session (`caused by the excellent earning @ Nvidia) has been sold on Friday!
My last count assumed a wave b upwards and a wave c to follow! I called this wave a "sucker-wave, `cause they try to lure traders to the wrong path! "B-waves" are kidding you, are looser waves! Be patient!
But what message did the last two candles carry in it self?
Thursdays candle was one with high vlume and a massiv gain, up to 30 % at the session. This is to much within a short time!
Friday`s session was the opposite of the day before. Selling pressure and weakening hands, including a "gap-down" at the opening!
The closing price on Friday was shy below Thursday`s open! So, if traders continuou the selling action, the target for this sell-off is at or around $588.- to 641.- range!
A technicly caused fresh buy-signal will occur at $1003.- on a closing basis daily!
We will see if this action is part of a wave 4 or if this is part of a wave 2 of high degree!
For a final conclusion I need more informations and traders action in the coming weeks ahead!
Have a great week.....
Ruebennase
Please ask or comment as needed.
Trading based on this analysis is at your own risk.
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