Super Micro Computer stock price down 1.30% on Thursday

The Super Micro Computer stock price fell by -1.30% on the last day (Thursday, 28th Mar 2024) from $1,023.29 to $1,010.03. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.61% from a day low at $997.02 to a day high of $1,033.00. The price has fallen in 7 of the last 10 days and is down by -10.63% 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 -2 million shares and in total, 3 million shares were bought and sold for approximately $3.47 billion.

On Mar 25, 2024, it was reported that Wells Fargo gave SMCI a "Buy" grade with a "hold" action.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $988.94 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 225.15% during the next 3 months and, with a 90% probability hold a price between $3,215.51 and $4,414.19 at the end of this 3-month period.

The Super Micro Computer stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $991.71 and $955.34. A breakdown below any of these levels will issue sell signals. 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, March 13, 2024, and so far it has fallen -14.99%. 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 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 $975.52 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 $35.98 between high and low, or 3.61%. For the last week, the stock has had daily average volatility of 6.60%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Super Micro Computer stock to perform well in the short-term.