SMCI | Bullish Above $38.50, Golden Cross Setup Developing

I liked today’s action a lot.

SMCI closed at $39.84 (+1.74%) on roughly 62M shares while much of the broader market finished red. That relative strength stands out, especially following the recent earnings-driven breakout.

The biggest technical takeaway for me is that $38.50 held.

SMCI traded down to $38.74, found buyers, reclaimed $39, and closed back near $40 without giving back much of the breakout. That makes $38.50 my tactical line in the sand going into Monday.

There’s also an important MA setup developing here: SEE BLUE FLAG

The 20 (green), 50 (orange), and 200-day moving averages (blue) are converging
The 50-day is approaching the 200-day
A potential golden cross looks increasingly close ***

That kind of MA compression can become very important if price continues holding above the cluster and momentum expands.

My roadmap:

Above $38.50: bullish structure remains intact
Break $40.60: opens another push higher
$42.25–42.50: next major confirmation zone
Break $42.50: $47 becomes the next meaningful upside target (would be first major TP)

On the downside:

Lose $38.50: $35–36 likely comes back into play. LH / LL structure could be established. Seems unlikely.

RSI is also showing strong momentum, so I would prefer to see price hold these gains rather than immediately overextend.

What I like most is the relative strength. SMCI didn’t need a strong market backdrop to hold the breakout today.

Going into Monday, I’m bullish above $38.50, more aggressive above $40.60, and looking for real confirmation through $42.50.