Supermicro Price Levels to Watch After Stock Surged Nearly 80% Last Week
Key Takeaways
- 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…
Source link
