Super Micro stock soars 16%, eyes $38 resistance level

On Monday, shares of Super Micro Computer (NASDAQ:SMCI ) experienced a significant surge, climbing as much as 16% during intraday trading.

This notable increase propelled the stock to touch $38.50, marking its highest point since December 12, 2024. The movement on Monday represents the largest intraday rise for the company's shares since December 2, 2024.

The ascent of Super Micro Computer's stock brings it close to a key resistance level around $38, a benchmark that has historical significance dating back to the lows of September 2024.

This level previously acted as support and is now being tested as a potential ceiling for the stock's upward trajectory.

The robust performance on Monday is part of a broader trend for the tech company, which has seen its stock climb 14% over the past 12 months. This growth reflects a steady increase in investor confidence and the company's market valuation over the year-long period.

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Source: Investing.com