Super Micro Computer: Bears Run For Cover, As Bulls Pull The Trigger (Technical Analysis)

Summary:

• SMCI saw a meteoric rise from $35 to $120, but failed to sustain gains, dropping to $17 due to technical and external pressures.
• Bottoming in all probability at the $17 region, in this article we look at what may be next price wise for this equity as the ascent north continues.
• SMCI’s core business in high-performance servers and cloud computing remains strong, with key customers like Nvidia, AMD, and Intel.

I watched Super Micro Computer Inc. (NASDAQ:SMCI) curiously punch higher at a furious rate from its initial breakout of $35.69 post stock split in August of 2023, the exact price point this equity sits at in the

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.