$SMCI saw strong price gains in the first quarter of this year.
Price peaked in March, and we saw Go Countertrend Correction Icons at the high. This informed us that price would struggle to move higher and indeed GoNoGo Trend painted a majority of weaker aqua bars as GoNoGo Oscillator fell to test the zero line. As a Max GoNoGo Squeeze built, we knew it would be important to see in which direction the Squeeze was broken. As the oscillator broke the Squeeze into negative territory, that preceded a “NoGo” that lasted for the next couple of months. Now, as price has failed to make a lower low, we see GoNoGo Trend paint a first aqua “Go” bar as the trend changes. GoNoGo Oscillator, has broken back above the zero line into positive territory and on heavy volume. With momentum surging in the direction of the new “Go” trend, we will look for price to make an attempt at a new high.
