$SNXX Current price: $9.68 (24h -9.53%)
Super Micro Computer raised its full-year revenue guidance to $18.5 billion–$19.5 billion and also said gross margins should expand, yet its stock fell 6.69% today. Earnings guidance up, stock down—the money in this chain is cashing out.
Micron, Dell, and Hewlett Packard Enterprise all fell today. Western Digital was the only one to hold up, gaining 0.13%, while the semiconductor ETF fell 2.05% overall.
The drag came from server systems, pulling storage down with them.
All the moving averages are overhead and trending down. The price is not far above its monthly low, and is still about halfway below its monthly high.
Today's bearish candle left 10.80 overhead.
If it can't close back above 10.80, the path of grinding lower remains unchanged;
if it does close above, the losses on this leg down will have to be reassessed.
On October 20, VanEck ETFs still saw a combined net inflow of $360 million. Money hasn't left semiconductors; it just didn't flow into storage today.
Yesterday, some were calling SanDisk cheap at 17.6 times earnings.
After an 851% gain in a year, a 25.6% pullback is what made it cheap.
First, it may grind down toward the monthly low. There's still 18% of downside room to that area.
Based on its trading range since listing, the price is still more than halfway off its high.
$SNXX
Super Micro Computer raised its full-year revenue guidance to $18.5 billion–$19.5 billion and also said gross margins should expand, yet its stock fell 6.69% today. Earnings guidance up, stock down—the money in this chain is cashing out.
Micron, Dell, and Hewlett Packard Enterprise all fell today. Western Digital was the only one to hold up, gaining 0.13%, while the semiconductor ETF fell 2.05% overall.
The drag came from server systems, pulling storage down with them.
All the moving averages are overhead and trending down. The price is not far above its monthly low, and is still about halfway below its monthly high.
Today's bearish candle left 10.80 overhead.
If it can't close back above 10.80, the path of grinding lower remains unchanged;
if it does close above, the losses on this leg down will have to be reassessed.
On October 20, VanEck ETFs still saw a combined net inflow of $360 million. Money hasn't left semiconductors; it just didn't flow into storage today.
Yesterday, some were calling SanDisk cheap at 17.6 times earnings.
After an 851% gain in a year, a 25.6% pullback is what made it cheap.
First, it may grind down toward the monthly low. There's still 18% of downside room to that area.
Based on its trading range since listing, the price is still more than halfway off its high.
$SNXX
