Supermicro Stock Price Levels to Watch After Monday’s Near-30% Surge
Key Takeaways
- Supermicro shares jumped nearly 30% Monday after the server maker announced that an independent review of its accounting practices found no wrongdoing.
- The stock has reclaimed the lower trendline of a descending broadening formation that has been in play since the stock topped out in early March.
- Investors should watch key overhead areas on Supermicro’s weekly chart around $50, $64, and $97, while monitoring major support levels near $30 and $23.
Super Micro Computer (SMCI) shares jumped nearly 30% Monday after the struggling server maker announced that an independent review of its accounting practices found no wrongdoing.
Accusations of accounting-related anomalies earlier this year led to the delayed filing of…
