Chart Talk: Super Micro Computer is Making Waves in Overbought Territory

Super Micro Computer, Inc (NASDAQ:SMCI) witnessed a staggering surge on Monday morning, with shares of the California-based tech firm soaring by 7.7% to reach $797.82. This frenetic upward momentum has propelled the stock into the stratosphere of overbought conditions, as evidenced by the stocks relative strength index.

The RSI indicator for SMCI currently stands at 94.31, significantly eclipsing the traditional overbought threshold of 70, marking the highest level ever recorded for the stock. It’s noteworthy that just a few months ago, on January 17, SMCI’s RSI languished around 50. Since then, the shares have catapulted a colossal 167%.

Super Micro Computer, Inc (SMCI) has been a fixture in Alpha Picks since November 15, 2022.

The chart below depicts SMCI’s soaring trajectory and its RSI index.

Super Micro Computer, Inc (SMCI) price action:

• 1-Year: +813.9%.
• Year-to-Date: +179.1%.
• 6-Months: +198.1%.
• 1-Month: +128.8%.
• 5-Days: +19.5%.