$SUPER MICRO COMPUTER INC(SMCI)$ SMCI shot to 27.9 before correcting at 26 at this moment. This market correction is caused by two factors.
Firstly, there is a previous resistance at 27, which I predicted to happen during the billionnaire (likely insider) purchase hoo-haa. However, and secondly, this resistance is expected to be temporary lasting less than a market day or week, because some pessimist traders and investors probably set a sell limit order at 27 and left it there for a while. Some also try to hedge against the remaining uncertainty that NASDAQ is currently reviewing the file submitted by SMCI.
Great news though, that SMCI found a new accountant. Now, let's see what BDO will report regarding SMCI's alleged corruption, and let's see whether this is that serious a case that would affect its continued listing and stock price.
In any case, we should all anticipate that after the brief resistance at 26, SMCI will burst forth 27 and rockey through to at least 40!
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Will it keep rising tonight?