Super Micro Computer stock price down 1.66% on Wednesday

The Super Micro Computer stock price fell by -1.66% on the last day (Wednesday, 17th Apr 2024) from $976.30 to $960.08. During the last trading day the stock fluctuated 7.47% from a day low at $949.41 to a day high of $1,020.33. The price has fallen in 7 of the last 10 days and is down by -5.46% for this period. Volume has increased on the last day by 173 thousand 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, 7 million shares were bought and sold for approximately $6.84 billion.

On Apr 16, 2024, it was reported that Wedbush gave SMCI a "Underperform" 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 $882.46 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 68.13% during the next 3 months and, with a 90% probability hold a price between $1,483.72 and $2,369.19 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 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 $1,000.76. On a fall, the stock will find some support from the short-term average at $923.95. 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 -19.19%. 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.

On the downside, the stock finds support just below today's level from accumulated volume at $880.55 and $803.32.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 $880.55. If this is broken, then the next support from accumulated volume will be at $803.32 and $787.57.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $70.92 between high and low, or 7.47%. For the last week, the stock has had daily average volatility of 6.26%.

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.