14-day Premium Trial Subscription Try For FreeTry Free

Super Micro Computer stock downgraded to Sell Candidate

StockInvest.us, 3 weeks ago

Super Micro Computer

The Super Micro Computer stock price fell by -1.04% on the last day (Tuesday, 28th May 2024) from $883.88 to $874.72. During the last trading day the stock fluctuated 5.16% from a day low at $865.00 to a day high of $909.65. The price has fallen in 6 of the last 10 days but is still up by 11.75% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -625 thousand shares and in total, 6 million shares were bought and sold for approximately $5.40 billion.

On May 01, 2024, it was reported that Bank of America Securities gave SMCI a "Buy" grade with a "hold" action.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -22.85% during the next 3 months and, with a 90% probability hold a price between $458.22 and $731.88 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.

Super Micro Computer

The Super Micro Computer stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $881.43. On a fall, the stock will find some support from the long-term average at approximately $849.24. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -8.15%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Super Micro Computer finds support from accumulated volume at $847.38 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 $44.65 between high and low, or 5.16%. For the last week, the stock has had daily average volatility of 8.30%.

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.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Check full Super Micro Computer forecast and analysis here.