Super Micro Computer Stock Forecast
Super Micro Computer stock price up 3.06% on Tuesday
(Updated on Jul 02, 2024)
The Super Micro Computer stock price gained 3.06% on the last trading day (Tuesday, 2nd Jul 2024), rising from $812.32 to $837.17. During the last trading day the stock fluctuated 6.86% from a day low at $796.29 to a day high of $850.92. The price has fallen in 6 of the last 10 days and is down by -5.66% for this period. Volume fell on the last day by -2 million shares and in total, 5 million shares were bought and sold for approximately $4.58 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -6.29% during the next 3 months and, with a 90% probability hold a price between $622.13 and $862.64 at the end of this 3-month period.
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SMCI Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 $837.21 and $843.18. 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 -12.10%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Super Micro Computer stock
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 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 $54.63 between high and low, or 6.86%. For the last week, the stock has had daily average volatility of 7.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SMCI) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Super Micro Computer to open at $828.13, and during the day (based on 14 day Average True Range), to move between $775.51 and $898.83, which gives a possible trading interval of +/-$61.66 (+/-7.37%) up or down from last closing price. If Super Micro Computer takes out the full calculated possible swing range there will be an estimated 14.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $847.38 (1.22%) than the support at $819.35 (2.13%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Super Micro Computer stock A Buy?
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.
Current score: -3.294 Sell Candidate Unchanged
Predicted Opening Price for Super Micro Computer of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $828.13 ( 1.08%) | $837.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMCI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 882.76 | 5.45% |
| R2 | 861.89 | 2.95% |
| R1 | 849.00 | 1.41% |
| Price | 837.17 | |
| S1 | 807.26 | -3.57% |
| S2 | 794.36 | -5.11% |
| S3 | 773.49 | -7.61% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 917.64 | 9.61% |
| R2 | 871.10 | 4.05% |
| R1 | 847.38 | 1.22% |
| Price | 837.17 | |
| S1 | 819.35 | -2.13% |
| S2 | 738.30 | -11.81% |
| S3 | 713.65 | -14.75% |
FAQ
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