• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Super Micro Comp (NASDAQ:SMCI)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Super Micro Comp (NASDAQ:SMCI) based on the price action in the company's shares. Yesterday's price range of $25.95 and $26.70 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Super Micro Comp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Super Micro Computer, Inc. designs, develops, manufactures and sells server solutions based on modular and open-standard x86 architecture. The Company's products include servers, motherboards, chassis, and accessories.

Potential upside of 30.0% exists for Super Micro Comp, based on a current level of $26.62 and analysts' average consensus price target of $34.60. The stock should run into initial resistance at its 200-day moving average (MA) of $27.89 and subsequent resistance at its 50-day MA of $31.35.

Over the past year, Super Micro Comp has traded in a range of $18.60 to $31.75 and closed yesterday at $26.62, 43% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.3% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for Super Micro Comp and will alert subscribers who have SMCI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle super micro comp

Ticker(s): SMCI