Stock Of The Day: How Low Can SMCI Go In Its Freefall?
Portfolio Pulse from Mark Putrino
Super Micro Computer, Inc. (NASDAQ:SMCI) is experiencing a significant stock price decline due to allegations of illegal accounting practices. The stock may find support around $355, a level where previous resistance was observed. If the stock reaches this level, remorseful sellers may place buy orders, potentially stabilizing the price.
August 28, 2024 | 3:54 pm
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Super Micro Computer, Inc. is facing a stock price decline due to allegations of illegal accounting practices. The stock may find support around $355, a level where previous resistance was observed. If the stock reaches this level, remorseful sellers may place buy orders, potentially stabilizing the price.
The allegations of illegal accounting practices are serious and have led to a significant decline in SMCI's stock price. The potential support level at $355 is based on historical resistance, where previous sellers may become buyers, potentially stabilizing the price. However, the uncertainty surrounding the allegations keeps the short-term outlook negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100