Supermicro shares jumped 12% on Wednesday after the server maker submitted its delayed financial reports just ahead of a Nasdaq deadline to avoid delisting.
The stock had lost more than 40% of its value in the past year due to accounting and corporate governance allegations, but has surged 68% since the start of the year. The company’s recent business update provided an upbeat revenue outlook, driven by growing demand for its products supporting AI infrastructure.
Key levels on Supermicro’s chart include:
* $63: An overhead area that may face selling pressure near an August countertrend peak
* $75: A potential target if shares close above $63
* $96: An area of resistance due to multiple peaks from February to July
Support levels worth watching during retracements are:
* $48: The 50% Fibonacci retracement level, just above a trendline connecting comparable price action from August to December
* $38: A lower support level near the September swing low and other prominent price points
Source: https://www.investopedia.com/watch-these-supermicro-levels-as-stock-soars-after-company-meets-nasdaq-filing-deadline-11686630