Super Micro Computer stock upgraded to Buy Candidate., 2 weeks ago

Super Micro Computer

The Super Micro Computer stock price fell by -0.0496% on the last day (Friday, 5th Jul 2024) from $847.00 to $846.58. During the last trading day the stock fluctuated 4.64% from a day low at $828.25 to a day high of $866.70. The price has fallen in 6 of the last 10 days and is down by -7.74% for this period. Volume has increased on the last day by 2 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, 5 million shares were bought and sold for approximately $4.03 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 -2.73% during the next 3 months and, with a 90% probability hold a price between $672.42 and $912.16 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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $840.56 and $845.71. A breakdown below any of these levels will issue sell signals. 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 Tuesday, June 18, 2024, and so far it has fallen -7.98%. 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 $819.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $38.45 between high and low, or 4.64%. For the last week, the stock has had daily average volatility of 6.74%.

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.

Check full Super Micro Computer forecast and analysis here.