SMCI - Uptrend resuming

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SMCI is looking at a return of the uptrend after breaking above its corrective downtrend line and buying pressure is seen resuming. Overall major trend is on the upside and strong.

Momentum:

Long-term MACD: histogram is positive and signal line is rising steadily

Stochastic Oscillator: Nearing overbought zone, but momentum remain healthy. As long as correction (if any) is not strong (drop cannot be more than 7% within a week).

Volume is healthy

Buy spot at 60.05 or buy upon correction at 43.27.

35.09 is the major support.

Penafian

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