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The Super Micro Computer stock price fell by -0.86% on the last day (Monday, 1st Jul 2024) from $819.35 to $812.32. During the last trading day the stock fluctuated 7.51% from a day low at $773.88 to a day high of $832.00. The price has fallen in 6 of the last 10 days and is down by -3.82% for this period. 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 -6 million shares and in total, 7 million shares were bought and sold for approximately $5.72 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 -7.63% during the next 3 months and, with a 90% probability hold a price between $604.03 and $844.79 at the end of this 3-month period.
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. On corrections up, there will be some resistance from the lines at $846.94 and $842.08. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -14.70%. 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.
On the downside, the stock finds support just below today's level from accumulated volume at $738.30 and $717.02.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 $738.30. If this is broken, then the next support from accumulated volume will be at $717.02 and $713.65.
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 $58.12 between high and low, or 7.51%. For the last week, the stock has had daily average volatility of 7.10%.
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.
Check full Super Micro Computer forecast and analysis here.