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Super Micro Computer stock price up more than 6.09% on Monday

StockInvest.us, 1 month ago

Super Micro Computer

The Super Micro Computer stock price gained 6.09% on the last trading day (Monday, 6th May 2024), rising from $782.70 to $830.35. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.87% from a day low at $786.90 to a day high of $833.08. The price has risen in 7 of the last 10 days and is up by 15.81% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 227 thousand more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $4.38 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 -3.15% during the next 3 months and, with a 90% probability hold a price between $684.58 and $1,128.45 at the end of this 3-month period.

Super Micro Computer

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 16.35%. Further rise is indicated until a new top pivot has been found. 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. 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 $902.91. On a fall, the stock will find some support from the short-term average at $817.21. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Super Micro Computer finds support from accumulated volume at $803.32 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 $46.18 between high and low, or 5.87%. For the last week, the stock has had daily average volatility of 7.42%.

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.

Check full Super Micro Computer forecast and analysis here.