SMCI Stock Price Bounced Back From 100-day EMA; All-time High Soon?
Based on the technical chart, the SMCI stock price has consolidated in the last few months of 2023. However, it triggered a breakout in 2024 and jumped by approximately 300% in just 3 months. The bullish trend has interrupted near the $1200 hurdle and shown weakness.
On a wider time frame, the SMCI stock price has been in a strong bullish trend, however in the short term, sellers are strong and the asset price is falling by forming lower lows and lower highs. On April 19, the price was dumped by 23% and sellers showed dominate whole session.
According to the technical indicators, the SMCI stock price is trading between the key moving averages which showcases the neutral momentum. Since mid-March, the histogram has been red and the MACD and the Signal line have dropped below the Zero line indicating the selling momentum. RSI has generated a golden crossover between the RSI line and the RSI-based moving average.
About Super Micro Computer, Inc.
Super Micro Computer, Inc. develops and manufactures high-performance server and storage solutions based on modular and open architecture. Its solutions range from complete server and storage systems to server management software and security software.
The company provides application-optimized server solutions, rackmount and blade servers, storage, and subsystems and accessories. It sells its products through direct and indirect sales force, distributors, value-added resellers, system integrators, and original equipment manufacturers. The company was incorporated in 1993 and is headquartered in San Jose, California.
SMCI Price Gained Bullish Momentum Ahead of Earnings; Will It Keep Surging?
NASDAQ: SMCI/USD 1-Day Chart By TradingView
SMCI earnings are expected to arrive on April 30, 2024, and the ending period was March 2024. The estimated earnings are 5.801 and the estimated earnings are $3.989 billion.
As of the chart structure, the stock price has extended to the 20-day EMA which acts like a resistance level. Suppose the asset price manages to surpass the 20-day EMA and sustains then buyers may become confident. If the SMCI stock price chart structure attracts investors then it may reach a new all-time high.
Suppose the asset price starts trading below the 100-day EMA then sellers may become confident and may melt to the $500 mark soon. Below the 100-day EMA, buyers may face difficulty in bouncing back.
SMCI Stock Price Has Triggered a Pullback on Weekly TimeFrame; What’s Next?
NASDAQ: SMCI/USD 1-Week Chart By TradingView
On a weekly time frame, the SMCI stock price has faced resistance from the $1200 hurdle and showed weakness. The price has taken support on the 20-day EMA and is up by 18.88%. Currently, the price has triggered a pullback and if this positive momentum is supported by the trading volume then it may record a new all-time high.
Suppose the price falls back and slips below the 20-day exponential moving average then sellers may look for the 200-day EMA.
The current market price of SMCI is $50.20 billion and the debt is $384.57 million. The minority interest is $725.66 million and the enterprise value is $49.86 billion.
Conclusion
Super Micro Computer, Inc. (SMCI) has risen 18% in the past two trading sessions, indicating a potential recovery from recent price consolidation. The stock’s performance between the 20-day and 200-day EMAs suggests a state of flux, with the upcoming earnings report on April 30, 2024, serving as a possible catalyst for future price movements. Investors should monitor the stock’s reaction to its earnings report and watch for significant shifts in trading volume. SMCI’s stock price dynamics in the coming days will be closely tied to both its financial performance and market sentiment.
Disclaimer
It’s important to note that the views and opinions presented in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading stocks carries inherent risks, and readers should conduct their research before making any financial decisions.
