$SUPER MICRO COMPUTER INC(SMCI)$
Very few news commentaries are actually helpful and tend to hide their agenda to promote or break the current bullish/bearish momentum.
SMCI deserves its current rise and furthe rise to at least $40. But a rise that doesn't come with a strong support line lacks foundation and isn't sustainable. The last strong support is $25-27 range. What is the new support line now? Certainly not $30-31; not enough time has taken to build this new support line. So the current $35-36 bullish momentum will not go far.
If SMCI does not start falling at the current price range, then further rise to $37-38 will induce SMCI to fallback hard and set up a new support line. I anticipate the fallback to temporarily stabilise at low $30-31, assuming no bad news.
Comments
I’d rather stay away this kind of fraud companies