Long Position on SMCI @ $28.60 on 9/29/2014 (Momentum)

Bullish Cup & Handle on SMCISuper Micro Computer (SMCI) develops and provides high performance server solutions based on modular and open-standard architecture.

The company offers a range of server, storage, blade, workstation, and full rack solutions, as well as networking devices, server management software, and technology support and services.

It also provides a range of application optimized server solutions, including rackmount and blade server systems; and server subsystems and accessories comprising server boards, and chassis and power supplies, as well as other system accessories, including microprocessors, and memory and disc drives.

The company offers its products to data center, cloud computing, enterprise IT, big data, high performance computing, and embedded markets. It sells its server systems, and server subsystems and accessories primarily through distributors that comprise value added resellers and system integrators, and OEMs, as well as through direct sales force.

The company has operations primarily in San Jose, California; the Netherlands; Taiwan; China; and Japan. Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock.

52-Week Trading Range: $12.78 - $29.65

Entry Point: $28.60

Stop Loss: $27.17

Target Price: $31.46

 

Updates

10/6/2014 9:42:40 AM

SMCI fell below our stop loss. Closed at $27.11

Position closed on 10/6/2014 at price of $27.11 with a -5.21% loss in 7 days.

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