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TheAverageTrader2

head and shoulder top reversal on SMCI

Short
Super Micro Computer, Inc. (BATS:SMCI)  
TheAverageTrader2 Updated   
BATS:SMCI   Super Micro Computer, Inc.
Chart Patterns Trend Analysis Head and Shoulders
18
12
chartpattern trendanalysis headandshoulders
perfect techincal figure, with high volume on SX and lower on head , drastic low volume on right shoulder, a solid neckline, Open interest shows that the funds are shorting SMCI, perfect timing to join the train a price target of 500$ is nice.
Comment:
100% success from the operation, the actually gain is 22% but my take profit is in 530 area, good volume, with a gap on the neckline, i think it wont be a return on the neckline so the short is a success!
Trade active:
proceed to backtest.
Trade active:
i think that now we can short harder!
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