Supermicro shares rose by over 16% on Tuesday, extending an impressive rally that followed the server maker’s upbeat business update last week. The stock has seen follow-through buying on above-average volume after breaking out from a falling wedge pattern earlier this month.
Investors should watch crucial overhead areas around $70 and $96, as well as key support levels near $50 and $38. Demand for artificial intelligence (AI) infrastructure is growing, which has boosted investor enthusiasm. The company also provided guidance on significant revenue growth in fiscal 2026 and expects to submit its delayed fiscal 2024 financial reports by the Nasdaq’s Feb. 25 deadline.
Despite recent gains, Supermicro shares are still trading down 30% over the past twelve months due to high-profile accounting and corporate governance issues. The stock rose to $55.80 on Tuesday, driven by bullish momentum but also warning signs of overbought conditions.
Source: https://www.investopedia.com/watch-these-supermicro-price-levels-as-stock-continues-to-soar-super-micro-computer-11682105