Watch These Supermicro Price Levels as Stock Plunges After Weak Results
Key Takeaways
- Supermicro shares plummeted 15% in extended trading on Tuesday after the server maker posted preliminary quarterly results that came in well below its prior guidance.
- The stock has oscillated within an ascending channel since October last year, tagging the pattern’s upper and lower trendlines on several occasion over that time.
- Investors should monitor support levels on Supermicro’s chart around $28 and $17, while also watching resistance levels near $50 and $63.
Super Micro Computer (SMCI) shares plummeted in extended trading on Tuesday after the server maker posted preliminary results for its fiscal third quarter that came in well below its prior guidance.
The company tied the downward revision to delayed…
