Supermicro Price Levels to Watch After Recent Slump

16 minutes ago

Super Micro Computer (SMCI) shares moved higher in early trading Tuesday after tumbling yesterday following news that the stock will be removed from the Nasdaq 100 Index and reports that the embattled server maker is exploring ways to raise capital.

The stock has had a volatile year, rising to a closing high of $119 in March on the back of artificial intelligence (AI)-driven demand before plummeting in mid-November to around $18 following fears of a potential Nasdaq delisting after accounting anomalies led to delayed financial reporting. 

Over the past month, Supermicro shares have recovered 80% after the company hired a new auditor and secured a filing extension until Feb. 25, but had lost nearly a quarter of their value in the previous five trading sessions as investors assess the company’s outlook.

The stock was up 4% at around $35 about an hour into Tuesday's trading session.

Supermicro shares registered a decisive close below the 50-day moving average on Monday. The relative strength index (RSI) confirms weakening price momentum, with the indicator flashing a reading below 50 for the first time since late November.

Investors should watch major support levels on Supermicro's chart around $26 and $18, while also monitoring crucial resistance levels near $39 and $50.

Read the full technical analysis piece here.

–Timothy Smith

Dow Futures Lower as Index Rides 8-Day Losing Streak

1 hr 17 min ago

The Dow Jones Industrial Average is poised to open lower again Tuesday, with the index riding its longest daily losing streak in six years.

The Dow has closed lower in eight straight sessions, giving up nearly 3% over that period. The S&P 500 is near unchanged over the same period, while the Nasdaq Composite has gained 2.2% and hit new record highs.

Tesla Price Levels to Watch as EV Maker Continues to Rally

1 hr 17 min ago

Tesla (TSLA) shares are moving higher again Tuesday, extending a post-election rally  that has sent the stock soaring to record highs.

Wedbush on Monday lifted its price target to $515 from $400 but noted that the stock could reach as high as $650 by the end of next year, arguing that the incoming Trump administration will give the legacy EV maker’s self-driving and artificial intelligence (AI) initiatives a boost.

The stock was up 2.5% at around $475 about two hours before Tuesday's opening bell.

Through Monday’s close, Tesla shares have surged about 85% since the start of the year, with most of those gains coming after the Nov. 5 election on optimism that CEO Elon Musk’s close ties with President-elect Donald Trump will streamline the automaker’s approval processes.

The shares have trended sharply higher after breaking out from an ascending triangle, though the relative strength index signals extremely overbought conditions, which could lead to short-term profit-taking.

Bars pattern analysis, which extracts the stock’s sharp trending move from late June to early July and overlays it from the ascending triangle’s top trendline, forecasts a bullish target of around $510.

Investors should monitor key support levels on Tesla's chart near $360, $300, and $265.

Read the full technical analysis piece here.

–Timothy Smith

Take the Next Step to Invest Advertiser Disclosure × The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.