Nonetheless, it’s obviously a market that is bullish, and you do not want to be short of it anytime soon. I continue to look at this as a bullish market that I want to be part of, given half a chance to pick up cheap shares.
SMCI Technical Analysis
Super Micro Computer looks like it’s going to bounce a bit from the open, and at this point in time, it’s worth noting that the 50-day EMA is offering a little bit of support. Of course, we have that range of support between the 50-day EMA and the 200-day EMA indicators. All things being equal, this is a market that I do think tries to get back to the $60 level, but this has been in a massive range for basically a year now.
I think if we can break above the $60 level, it could really start to open up the possibility of a bigger move. A drop below the 200-day EMA opens up the possibility of a move down to $40, although that doesn’t look very likely in the short term.
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