Watch These Supermicro Price Levels as Volatility Returns to Server Maker’s Stock
Key Takeaways
- Super Micro Computer shares jumped Tuesday, a day after they tumbled 10% following news the server maker plans to issue $2 billion in convertible bonds.
- The stock broke down from a symmetrical triangle pattern in Monday’s trading session on the highest volume since mid-May.
- Investors should watch crucial support levels on Supermicro’s chart around $38 and $30, while also tracking resistance levels near $48 and $62.
Super Micro Computer (SMCI) shares rebounded Tuesday from a steep downturn the previous session that was sparked by news the server maker plans to issue $2 billion in convertible bonds.
The company said the bonds, which mature on June 15, 2030, will be used for general corporate purposes. The issuance…
