High volatility in Super Micro Computer stock price on Monday which ended trading at $1,042.79

The Super Micro Computer stock price gained 7.20% on the last trading day (Monday, 25th Mar 2024), rising from $972.74 to $1,042.79. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 10.93% from a day low at $967.00 to a day high of $1,072.74. The price has been going up and down for this period, and there has been a -3.47% loss 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, 7 million shares were bought and sold for approximately $7.14 billion.

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

The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 280.40% during the next 3 months and, with a 90% probability hold a price between $3,591.56 and $5,003.10 at the end of this 3-month period.

The Super Micro Computer stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $980.58 and $925.92. A breakdown below any of these levels will issue sell signals. 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 -12.23%. 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).

On the downside, the stock finds support just below today's level from accumulated volume at $975.52 and $803.32.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 $975.52. If this is broken, then the next support from accumulated volume will be at $803.32 and $787.57.

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 $105.74 between high and low, or 10.93%. For the last week, the stock has had daily average volatility of 7.56%.

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.