Weekly Wiretap Pick Of The Week SMCI

MAX Trade Potential: 12%

My Trade Plan Details:

• SMCI March 28 $43 calls around $2.30 to $2.50

• Stop: SMCI closes below $38

• Target 1: $45s
  
• Target 2: $48s
  
• Target 3: $50s
  

My Reasoning:

SMCI has been showing a strong base here since late February into early March and that base has been around $35 dollars but rising. Last week we broke above the 50 SMA around $37 and actually ran up to the 20 SMA at $45 level. I think if markets can find some strength early to mid week that $45 area could not only be a great target but a huge breakout for a possible run to the 200 SMA at $50 area.