Technical Analysis of Super Micro Computer Inc. (ticker on Nasdaq: SMCI)
The Super Micro Computer (SMCI) share shows a very strong development within a long-term rising trend, and now the share can face further strong growth within this rising trend.
In recent months, the share has consolidated within a large triangle consolidation formation, and a break from this consolidation formation will trigger a strong technical buy signal for the share.
There will then be little technical resistance to a further rise for the share, and lead up around the upper trend line in the long-term rising trend within which the share moves.
This indicates a potential for the share up to USD 4,000, and preferably within just the next 6-12 months.
The share closed on Friday 05 July 2024 at a price of USD 846.58, so the potential for the share can be very large.
The overall technical picture for the share is very positive, and indicates that there may soon be such a break from the recent large consolidation formation, and that further upswing within the rising trend may come in the next 6-12 months.
The share now finds support around the 50-day moving average, and from the overall technical picture for the share, it is now indicated that a break up from the aforementioned large triangle consolidation formation may come within a short time (1-2 weeks).
The share is now down towards the lower trend line and support level in the steeply rising long-term trend within which the share moves, and the share appears as a very interesting buy candidate at the current price level.
With a potential perhaps up to around USD 4,000 in the 6-12 month term, and with a share price today of USD 846.00, and with a stop-loss at, for example, USD 700.00.
Yes, there is a very good risk-reward ratio here for this share case here with Super Micro Computer Inc. (SMCI).
Here it is well worth keeping a close eye on this share, Super Micro Computer Inc. (SMCI), in the time to come, the undersigned believes.
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