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Green day on Wednesday for Super Micro Computer

StockInvest.us, 1 month ago

Super Micro Computer

The Super Micro Computer stock price gained 0.560% on the last trading day (Wednesday, 3rd Apr 2024), rising from $1,009.91 to $1,015.57. During the last trading day the stock fluctuated 7.93% from a day low at $965.83 to a day high of $1,042.45. The price has been going up and down for this period, and there has been a 11.48% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately $6.20 billion.

On Mar 25, 2024, it was reported that Wells Fargo gave SMCI a "Buy" grade with a "hold" action.

Given the current short-term trend, the stock is expected to rise 176.19% during the next 3 months and, with a 90% probability hold a price between $2,804.93 and $3,844.20 at the end of this 3-month period.

Super Micro Computer

The Super Micro Computer stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $1,023.40. On a fall, the stock will find some support from the long-term average at approximately $979.67. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -14.52%. 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 $975.52 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 $76.63 between high and low, or 7.93%. For the last week, the stock has had daily average volatility of 5.60%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Super Micro Computer stock to perform well in the short-term.

Check full Super Micro Computer forecast and analysis here.