We are going sideways trying to determine the next move. All things being equal, we are hanging around the 50 day EMA, we have the $150 level below offering support and of course that trend line. It is in an uptrend, so perhaps we will see an attempt to go higher.
SMCI Technical Analysis
Super Micro Computer is looking like it wants to bounce a little bit in pre-market trading, as the area right around $40 has been important multiple times as both support and resistance. Quite frankly, when you zoom out on the chart, you can see that we are in an area that’s basically in the middle of a huge consolidation zone. The 200 day EMA and the 50 day EMA both are above current prices and somewhat significantly.
So, at this point, I would not trust rallies, although I don’t necessarily think that shorting is the way to go either. If we do break down from here, the $34 level could be your next target. If we break higher, then pay close attention to that 200 day EMA near the $44.30 level as a potential target and barrier.
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