Supermicro Stock Whipsaws After Saying It’ll Meet Filing Deadline—Watch These Price Levels
Key Takeaways
- Supermicro shares whipsawed in extended trading on Tuesday after the troubled server maker said it expects to submit its delayed 2024 financial reports by the Nasdaq’s Feb. 25 deadline.
- Meeting that deadline will help the company to avoid being delisted and shore up investor confidence in the stock.
- The stock broke out above the top trendline of a descending broadening formation last Friday, potentially also forming an inverse head and shoulders bottoming pattern in the process.
- Investors should monitor important overhead areas on Supermicro’s chart around $50, $70, and $96 while also watching key support levels near $26 and $18.
Super Micro Computer (SMCI) shares popped 8% in extended trading Tuesday after the troubled…
