Watch These Supermicro Price Levels as Stock Drops on Slashed Outlook
Key Takeaways
- Supermicro shares fell Wednesday after the embattled server maker scaled back its full-year revenue outlook.
- The stock has tracked mostly sideways on lackluster trading volume near the lower trendline of an ascending channel, with the 50-day moving average acting as a resistance line.
- Investors should monitor major support levels on Supermicro’s chart near $28 and $17, while also watching key resistance levels near $50 and $63.
Super Micro Computer (SMCI) shares fell Wednesday after the embattled server maker sliced its full-year revenue outlook.
While the company, in a late-Tuesday announcement, said it expects delayed client product purchases in its most recent quarter to land in the June and September quarters, it…
