Super Micro Computer stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session

The Super Micro Computer stock price fell by -3.83% on the last day (Tuesday, 22nd Oct 2024) from $47.80 to $45.97. During the last trading day the stock fluctuated 7.50% from a day low at $44.81 to a day high of $48.17. The price has been going up and down for this period, and there has been a 1.37% gain for the last 2 weeks. Volume has increased on the last day by 5 million 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, 41 million shares were bought and sold for approximately $1.88 billion.

On Oct 02, 2024, it was reported that Barclays gave SMCI a "Equal-Weight" grade with a "hold" action.

The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $47.15 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Given the current short-term trend, the stock is expected to fall -35.23% during the next 3 months and, with a 90% probability hold a price between $16.73 and $30.54 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

The Super Micro Computer stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $47.50. On a fall, the stock will find some support from the long-term average at approximately $44.47. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, October 16, 2024, and so far it has fallen -5.70%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Super Micro Computer finds support from accumulated volume at $44.88 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 $3.36 between high and low, or 7.50%. For the last week, the stock has had daily average volatility of 5.94%.

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.