SMCI rebounding on its 2-year Support Zone. $2000 next stop.

8月16日

Super Micro Computer Inc. (SMCI) is on its strongest 1W green candle since May 22 2023, recovering the 1W MA50 (blue trend-line), which was broken last week amidst the general market panic on a potential economic slowdown.

This rebound happens to take place just inside the 2-year Higher Lows Zone that started back in July 2022. The ultimate Support, the 1W MA100 (green trend-line) is exactly on that Zone's bottom and as long as it holds, we will stay bullish on SMCI long-term. Even the 1W RSI marginally broke below its 2-year Support Zone, but immediately recovered it.

As a result, we expect the new Bullish Leg (green Channel Up) to start. Every single one of the previous Legs of this 2-year pattern has been higher than the previous, so since the last rally completed a +344.40% rise, we expect at least a repeat of this. Our long-term Target is $2000.

-------------------------------------------------------------------------------

** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **

-------------------------------------------------------------------------------

💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇