Fibergeek

2017-06-17 - Supermicro - Neutral Opinion but with a Buy in mind

NASDAQ:SMCI   Super Micro Computer, Inc
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I want to go long on Supermcrio.

BEARISH:
The downtrend (red line) is still in effect so I am standing at the side.
The short interest on the stock is around 9%, which I consider to be a safe value.

BULLISH:
Over the last weeks the average volume has increased compared the volume before earnings .
This shows that interest in the stock has increased and a breakout may be coming soon.

The purple trendlines indicate that an uptrend is beginning, the stock seems to be no longer making lower lows!

ACTION PLAN:
If there is a retest under 24, I will buy and hold, with a mental stoploss at 23.
If however the stock moves above 26 I will buy the pullback.

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