This year, the Super Micro Computer (NASDAQ:SMCI) has seen a thrilling journey in the stock market. The company has stood out, especially with the growing interest in artificial intelligence (AI) technologies.

Starting the year at approximately $300 per share in January, SMCI's stock price surged to over $1,200 by March, grabbing the attention of investors and analysts. However, it seems to have hit a barrier around the $1,000 level recently.

Now, investors are wondering if SMCI can surpass this crucial $1,000 barrier. Let's explore this further.

Legacy of SMCI: Breaking Previous Ranges and Reaching New Highs

Here's some good news for optimistic investors holding SMCI: even if the stock remains around $1,000 for some time, there's no need to worry. SMCI has a history of moving beyond its trading ranges with flair. The long-term chart shows a period from 2014 to 2022 when the stock traded between $10 and $40 for about eight years.

In early 2022, SMCI broke free from this range and started an upward trend that continued until April 2023. It was in mid-April of that year that SMCI passed the $120 mark.

Although the stock faced a minor correction last week following its inclusion in the S&P 500 and an equity raise at $875, it found support near $900, showing promise for bullish investors.

While short-term indicators suggest a bearish trend, SMCI could consolidate between $850 and $1,200 in the near future. However, bearish investors should be cautious until the stock drops below $855 and long-term indicators turn bearish. Until then, the bullish sentiment is strong.