Supermicro shares gained ground in premarket trading on Monday after rising nearly 80% last week, as the embattled server maker rebounded from a turbulent stretch.
The recent gains follow the filing of a compliance plan last Monday to avoid a potential Nasdaq delisting, as well as a mention from partner and AI favorite Nvidia in the chipmaker’s earnings call on Wednesday.
Supermicro shares broke down below support earlier this month before promptly reversing direction to create a potential bear trap.
The relative strength index has crossed above 50 to confirm improving momentum, but sits below overbought territory, giving the price ample room to test higher prices.
Investors should monitor important resistance areas on…
