SMCI: Measured Move Target Signals $46.20Super Micro Computer, Inc.BATS:SMCItimothysmith78Super Micro Computer (SMCI) shares popped 8% in premarket trading on Wednesday after the AI server maker issued a rosy full-year revenue outlook and posted fiscal fourth quarter earnings that surpassed Wall Street expectations, driven by surging AI hardware demand. From a technical standpoint, the shares appear to have carved out an inverse head and shoulders formation, a chart pattern that signals a potential bullish trend reversal. To project a bullish price target, we can use the measured move technique. When applying the analysis to Supermicro's chart, we calculate the percentage distance of the head and shoulders and add it to the pattern's neckline value. For instance, we add 40% to $33.00, which forecasts a target of $46.20. It's also worth pointing out that this level sits just below several prominent peaks on the chart dating back to December 2024.