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EuroMotif
Mar 4, 2024 5:08 PM

SMCI eyes on 1152: Golden Genesis fib and Sister of last support 

NASDAQ:SMCI60
Super Micro Computer, Inc.NASDAQ

Description

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SMCI hitting next Golden Genesis fib at $ 1152.72.
Last strong bounce was Sister Golden at $ 713.83.
Expecting reaction here, like Sisters paying catch.

Comment

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Triple Top EXACTLY on our fib?

This could well be "A" top if not "the" top.

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Trade active

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Attention Passengers: the Captain has turned on the seatbelts light

Please buckle up as we drop thru some turbulence.

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Zoom IN (m1)

now watching $933.27 for support,
and a couple of resistance zones above.

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Comment

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Decent little bounce under way


Quick Elliott Wave guess might look like:


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Zoom IN (M15) and adding a fib of last wave down:

$ 985.11-988.47 the Immediate resistance zone to watch.
Break above might invalidate the EW count....

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Comment

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Pull back continues, testing a minor support

$881.42 is a Minor fib ratio,
$827.46 a Semi-Major (stronger)
$713.83 is Major (golden srongest)

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Zoom in (m5)

Pings on the Genesis fibs (thick lines) confirm the entire series to be relevant.

So we an expect a bit of a bounce here,
but still looking lower for final targets,
need to see/fib the wave as it develops.

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Comment

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Bounce where expected


Only to crash soon after

Thanks to Middle East conflict, whole market is down today, a Friday.

So lets see what Monday looks like,
maybe bulls can regain this support.

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Comment

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Back to the Scene of the Crime

Back to our Golden fib where this last leg started.

It was pierced, so not confident it will hold....

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Comment

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Quick update at Earnings Report.
Zoomed way in to 15 second candles:

Quick proof that all of our fibs are still good.

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No idea what to expect next, just a quick "check this out". :)
Will do some measurements soon to look for any new clues.

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Comment

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quick update on m15:

Between the proverbial "Rock and a Hard Place"

Looking for break to either side for next leg.

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Support and ResistanceFibonacci
Comments
novamatic
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great work. excellent updates. thank you
remarkableGear46192
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What's your opinion now?
EuroMotif
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@remarkableGear46192, I am still evaluating but thinking we may have bottomed.
Will post an update or new Idea once I have measured and contemplated the recent moves.
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