Big movements in Super Micro Computer stock price on Monday moving 11.06% between high and low
StockInvest.us, 1 month ago
The Super Micro Computer stock price fell by -5.26% on the last day (Monday, 11th Nov 2024) from $24.52 to $23.23. During the last trading day the stock fluctuated 11.06% from a day low at $21.30 to a day high of $23.66. The price has fallen in 7 of the last 10 days and is down by -51.32% for this period. Volume has increased on the last day by 11 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 71 million shares were bought and sold for approximately $1.64 billion.
On Nov 06, 2024, it was reported that Needham gave SMCI a "Mixed" grade with a "hold" action.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $21.59 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -34.05% during the next 3 months and, with a 90% probability hold a price between $14.24 and $30.20 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Wednesday, November 06, 2024, and so far it has risen 2.33%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Super Micro Computer stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $25.10 and $40.63. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Super Micro Computer finds support from accumulated volume at $22.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $2.36 between high and low, or 11.06%. For the last week, the stock has had daily average volatility of 12.71%.
Super Micro Computer is oversold on RSI14 (21). Some stock may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Super Micro Computer holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Check full Super Micro Computer forecast and analysis here.