Super Micro Computer stock upgraded from Strong Sell Candidate to Sell Candidate after Wednesday trading session.

The Super Micro Computer stock price gained 4.01% on the last trading day (Wednesday, 5th Jun 2024), rising from $771.61 to $802.52. During the last trading day the stock fluctuated 5.43% from a day low at $780.18 to a day high of $822.54. The price has fallen in 7 of the last 10 days and is down by -10.73% 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, 6 million shares were bought and sold for approximately $5.04 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 -25.77% during the next 3 months and, with a 90% probability hold a price between $414.01 and $656.30 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.

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 sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $810.23 and $828.93. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -15.73%. 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 $738.30 and $717.02.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 $738.30. If this is broken, then the next support from accumulated volume will be at $717.02 and $713.65.

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 $42.36 between high and low, or 5.43%. For the last week, the stock has had daily average volatility of 5.84%.

Super Micro Computer holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.