SMCI Rebounding on its 1W MA50 and targeting the ATH.

Super Micro Computer Inc (SMCI) hit last week its 1W MA50 (blue trend-line) and this week posts a strong 1W candle. This rebound comes on the Higher Lows trend-line (bottom) of the 1-year Ascending Triangle.

It may not be exactly like the Channel Up of 2022 but it looks like a similar Accumulation pattern that preceded the massive 2023 rally. The Triangle typically breaks to the upside and technically targets the 2.0 Fibonacci extension. This time that would be even higher than the 2023 rise of +948.85%.

In any case that would be our over-extended Target ($180.00), with a more 'reasonable' one being the All Time High (ATH) of $123.00.

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