Evaluation of Super Micro Computer stock downgraded after the last trading session.

StockInvest.us, 1 month ago

Super Micro Computer

The Super Micro Computer stock price gained 0.472% on the last trading day (Monday, 22nd Apr 2024), rising from $713.65 to $717.02. During the last trading day the stock fluctuated 9.37% from a day low at $671.00 to a day high of $733.84. The price has fallen in 6 of the last 10 days and is down by -22.78% for this period. Volume fell on the last day by -8 million shares and in total, 9 million shares were bought and sold for approximately $6.64 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

On Apr 19, 2024, it was reported that Wells Fargo gave SMCI a "Equal-Weight" grade with a "hold" action.

Given the current short-term trend, the stock is expected to rise 43.81% during the next 3 months and, with a 90% probability hold a price between $1,031.13 and $1,969.87 at the end of this 3-month period.

Super Micro Computer

Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 $868.11 and $994.21. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -39.65%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Super Micro Computer finds support from accumulated volume at $713.65 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $62.84 between high and low, or 9.37%. For the last week, the stock has had daily average volatility of 11.62%.

Super Micro Computer is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

The Super Micro Computer stock holds several negative signals and despite the positive trend, we believe Super Micro Computer will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Check full Super Micro Computer forecast and analysis here.