High volatility in Super Micro Computer stock price on Wednesday which ended trading at $738.30

The Super Micro Computer stock price fell by -14.03% on the last day (Wednesday, 1st May 2024) from $858.80 to $738.30. During the last trading day the stock fluctuated 11.53% from a day low at $700.00 to a day high of $780.74. The price has been going up and down for this period, and there has been a -23.1% loss for the last 2 weeks. Volume has increased on the last day by 8 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, 13 million shares were bought and sold for approximately $9.93 billion.

On May 01, 2024, it was reported that Barclays gave SMCI a "Overweight" grade with a "hold" action.

The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $654.40 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 6.47% during the next 3 months and, with a 90% probability hold a price between $696.77 and $1,309.36 at the end of this 3-month period.

There are few to no technical positive signals at the moment. 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 $806.98 and $931.81. 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 -37.86%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

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 $80.74 between high and low, or 11.53%. For the last week, the stock has had daily average volatility of 9.30%.

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.