Strong day for Super Micro Computer stock price on Friday rising 8.90% to $857.44

StockInvest.us, 1 month ago

Super Micro Computer

The Super Micro Computer stock price gained 8.90% on the last trading day (Friday, 26th Apr 2024), rising from $787.40 to $857.44. During the last trading day the stock fluctuated 9.26% from a day low at $788.05 to a day high of $861.00. The price has been going up and down for this period, and there has been a -4.57% 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 $6.01 billion.

On Apr 24, 2024, it was reported that Wedbush gave SMCI a "Neutral" 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 21.48% during the next 3 months and, with a 90% probability hold a price between $882.00 and $1,583.16 at the end of this 3-month period.

Super Micro Computer

There are mixed signals in the stock today. The Super Micro Computer stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $957.41. On a fall, the stock will find some support from the short-term average at $788.65. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -27.83%. 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 is rising along with the price. This is considered to be a good technical signal.

On the downside, the stock finds support just below today's level from accumulated volume at $803.32 and $787.57.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 $803.32. If this is broken, then the next support from accumulated volume will be at $787.57 and $681.59.

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 $72.95 between high and low, or 9.26%. For the last week, the stock has had daily average volatility of 9.94%.

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.

Check full Super Micro Computer forecast and analysis here.