Green day on Wednesday for Super Micro Computer stock after gaining 1.90%

The Super Micro Computer stock price gained 1.90% on the last trading day (Wednesday, 27th Nov 2024), rising from $34.42 to $35.07. During the last trading day the stock fluctuated 7.87% from a day low at $34.43 to a day high of $37.14. The price has risen in 7 of the last 10 days and is up by 72.5% over the past 2 weeks. Volume fell on the last day by -30 million shares and in total, 63 million shares were bought and sold for approximately $2.19 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 Nov 06, 2024, it was reported that Needham gave SMCI a "Mixed" grade with a "hold" action.

The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $37.78 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Given the current short-term trend, the stock is expected to fall -34.74% during the next 3 months and, with a 90% probability hold a price between $9.91 and $24.66 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

The Super Micro Computer stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $32.12 and $35.01. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Monday, November 25, 2024, and so far it has fallen -8.70%. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $33.15 and $33.07.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Super Micro Computer finds support just below today's level at $33.15. If this is broken, then the next support from accumulated volume will be at $33.07 and $28.27.

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 $2.71 between high and low, or 7.87%. For the last week, the stock has had daily average volatility of 11.29%.

Super Micro Computer holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.