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Super Micro Computer stock price ended at $1,037.15 on Monday, after gaining 2.69%.

StockInvest.us, 1 month ago

Super Micro Computer

The Super Micro Computer stock price gained 2.69% on the last trading day (Monday, 1st Apr 2024), rising from $1,010.03 to $1,037.15. During the last trading day the stock fluctuated 6.37% from a day low at $1,005.00 to a day high of $1,069.00. The price has fallen in 6 of the last 10 days and is down by -2.96% for this period. 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, 5 million shares were bought and sold for approximately $5.32 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 $1,002.80 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 208.79% during the next 3 months and, with a 90% probability hold a price between $3,096.53 and $4,231.47 at the end of this 3-month period.

Super Micro Computer

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 $1,011.81 and $965.03. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 -12.70%. 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).

On the downside, the stock finds support just below today's level from accumulated volume at $975.52 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 $975.52. If this is broken, then the next support from accumulated volume will be at $803.32 and $787.57.

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 $64.00 between high and low, or 6.37%. For the last week, the stock has had daily average volatility of 7.07%.

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.

Check full Super Micro Computer forecast and analysis here.