SMCI Super Micro Final Price Target Hit 11-5-24 Right Side Of The Chart

As covered in today’s earlier video, SMCI (Super Micro Computer Inc.) has hit the final price target (T2) with positive divergences forming on the indicators & the stock scheduled to report earnings after the market close today. As such, consider booking full profits as the odds for a reaction & potential trend reversal are elevated at this time.

Previous & updated daily & 60-minute charts below (T1 just above the 355.60 support was my initial & sole price target although the stock later split 10:1 (making T1 35.56) and then I added the second price target just above the 232.71 (23.27 after the split) on Aug 8th. Total profit on the trade would be dependent on the various objective entries & re-entries that were highlighted on the trade since the original short entry on back at the Feb 16th highs with the stock falling about 76% from there.

Note the last update when the bottom of the first target zone was hit last Wednesday stating my preference to sit tight (not cover or try to game a bounce) as a continued move to T2 was likely, resulting in another 25%+ since then.