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Super Micro Computer, Inc.
Short

SMCI broke the daily consolidation.

By DMT_Doctor
Updated
SMCI broke the tight daily consolidation to the downside today, confirming a short entry at $600 after losing daily demand. I will keep it on watch tomorrow with any weakness in SMH and QQQ for a potential continuation play down to the next daily demand. snapshot
Trade closed: target reached
SMCI confirmed the short continuation on the Hindenburg Research report and traded all the way down to the daily lower Bollinger Band, where the trade was closed. I noticed significant weekly $595 put flow yesterday, just prior to the $600 breakdown, which gave additional confidence in this trade.
Moving AveragesPivot PointsQQQsemiconductorsSMCISMHSupply and Demand
DMT_Doctor
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