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SMCI Breaks Down After Earnings & Stock Split Announcement

SMCI underperformed in yesterday’s earnings announcement, and announced a 10:1 stock split. The parabolic rally has broken and SMCI is also breaking down from a bull pennant structure.

I have $358.71 as a key support level to monitor on the way down, but SMCI bulls could step in earlier. I’m interested in buying whenever SMCI bottoms out.

The seasonality data suggests that SMCI has a bearish trend until the end of October, and November is a very bullish month.

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