Chart Talk: Super Micro Computer is noticeably overbought but continues to drive higher

Shares of Super Micro Computer, Inc (NASDAQ:SMCI) continued to explode on Monday morning as shares of the California-based tech firm jumped 7.7% to $797.82. The topside push has now forced the stock into extreme overbought conditions when looking at the stocks relative strength index.

According to the RSI indicator, SMCI currently trades near 94.31 which is noticeably higher than the traditional overbought standard level of 70 and is at the highest level ever for the stock. Moreover, SMCI’s RSI was around 50 back on the January 17 low. Shares have since rocketed by roughly 167%.

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

See the below chart of SMCI which includes the stocks 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%.