Super Micro Computer Price Levels to Watch as Stock Plunges After Business Update
Key Taakeaways
- Super Micro Computer shares slid in extended trading Tuesday after the troubled server maker provided preliminary results that missed expectations and said it’s unable to predict when it will file its delayed annual report.
- The stock broke down below a falling wedge pattern late last month on the highest weekly volume since late August, suggesting selling conviction behind the move.
- Investors should watch crucial support levels on Super Micro Computer’s chart around $23, $12, and $10, while monitoring a key resistance area near $30.
Shares in Super Micro Computer (SMCI) tumbled in extended trading Tuesday after the troubled server maker provided preliminary fiscal first-quarter results that came in below Wall Street…
