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SMCI Opportunity to Buy the Dip

Written By: ChartChamp

May 2, 2024

SMCI reported strong earnings and set high guidance for next quarter. I think there will be some more upside for SMCI, and it is one of the hotter stocks in the market right now.

Buy target:

  • $670 to $714

Stop Loss:

  • $665

Sell target:

  • New all time highs above $1,229

SMCI beat earnings expectations, and set high guidance for next quarter.

SMCI’s seasonality index is bullish over the next few months with average returns of +18.62% in May, +0.39% in June, and +11.18% in July.

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