SMCI Earnings on Early-August Could Be the SparkSuper Micro Computer, Inc.BATS:SMCIJordanBelfort8SMCI’s early-August earnings are very likely to be a bullish catalyst, and I think big money may use that report as the excuse to run it up. After SMCI’s explosive move in 2022, the stock has spent more than two years consolidating near the highs. Now it’s getting very close to the end of a wedge structure. Within that wedge, it has already found valid support twice from the long-term ascending channel that has been in place for more than a decade — the orange channel on my chart. At the same time, retail positioning between roughly $22 and $60 has been badly washed out. A lot of weak hands are gone. What makes this setup even more interesting is that the August earnings date lines up almost perfectly with the end of the wedge. For me, that gives enough reason to believe SMCI could use the news catalyst to trigger a violent breakout. We saw almost the exact same movie with AVAV on June 30: end of a descending wedge + support at the bottom of an ascending channel + earnings day. I bought AVAV on June 25, quickly made around 100%, and I’m still holding it now. That said, SMCI’s market structure is not as clean or perfectly engineered as a textbook setup, so I would not size too aggressively here. A weekly close below $19.80 would invalidate my thesis. The setup is loaded. Now it just needs earnings to pull the trigger. SMCI