High volatility in Super Micro Computer stock price on Wednesday which ended trading at $443.49

The Super Micro Computer stock price fell by -19.02% on the last day (Wednesday, 28th Aug 2024) from $547.64 to $443.49. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 23.23% from a day low at $395.18 to a day high of $487.00. The price has fallen in 6 of the last 10 days and is down by -23.15% for this period. Volume has increased on the last day by 25 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, 36 million shares were bought and sold for approximately $16.06 billion.

On Aug 28, 2024, it was reported that Wells Fargo gave SMCI a "Equal-Weight" 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 $412.99 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -36.35% during the next 3 months and, with a 90% probability hold a price between $262.89 and $373.20 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.

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $572.34 and $667.09. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, August 16, 2024. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $91.82 between high and low, or 23.23%. For the last week, the stock has had daily average volatility of 10.31%.

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.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.