SMCI Nasdaq Inclusion
I've posted about the death of Walgreens quite a bit lately and now it is being removed from the Nasdaq in favor of SMCI. It's set to happen on July 22nd. I'm more concerned with SMCI than WBA, this could lead to a lot of hype and huge move for SMCI.
It had a nice bull flag breakout and retest in June, but it has mostly been sideways since. This is always a volatile stock, so I would expect it to continue especially after this news. Here are some potential paths moving forward. It has a nice pennant that could break in either direction and when it does, it should be a big move. My first upside target is 1020 and then ATH.
If it breaks to the downside, I'd be looking for it to find support around the low from April at $671.
It had a nice bull flag breakout and retest in June, but it has mostly been sideways since. This is always a volatile stock, so I would expect it to continue especially after this news. Here are some potential paths moving forward. It has a nice pennant that could break in either direction and when it does, it should be a big move. My first upside target is 1020 and then ATH.
If it breaks to the downside, I'd be looking for it to find support around the low from April at $671.
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky, most traders lose money!
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky, most traders lose money!
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