Super Micro Computer, Inc. Common Stock

  • SMCI

  • $34.95

  • -7.86%

  • $37.00

  • $37.55

  • $35.55

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Live Technical Stock Analysis
Thu, December 5, 2024 | 4:00PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

LIVE Technical Stock Analysis December 2024

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Mon, December 2, 2024 | 12:40PM ET

⚡ FlashInsights

Mon, December 2, 2024 | 12:40PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥
Today's mild gains are nearly exclusively being driven by Large-Cap Technology gains which along with some of the Cruise-liner and Casino names within Discretionary are resulting in positive NASDAQ 100 gains of +1.25% and SPX gains of +0.28% while the Equal-weighted SPX (RSP -0.42% ) is down -0.30% on 1% or greater losses in Financials, Utilities, Energy, and REITS.. 9 of 11 sectors are down today and market breadth is -3/2 negative. Yet a Semiconductor bounce along with SMCI -7.86%  rebound has been healthy for Tech today. SPX daily chart enclosed shows SPX up near the upper edge of its channel resistance, but DeMark-based exhaustion counts look early by roughly 2 days (Both for SPX and also QQQ) Thus, no evidence of any selling pressure as December trading gets kicked off, but I expect markets will show consolidation between 12/5-December expiration before the Santa rally kicks in. Overall, i anticipate maximum gains to 6100 SPX while downside probably does prove muted in December given AAPL's breakout last week and 5950 could hold.
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Wed, October 30, 2024 | 10:42AM ET

⚡ FlashInsights

Wed, October 30, 2024 | 10:42AM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥
SMCI -7.86%  Super Micro Computer gapped down sharply after their auditor quit (Ernst & Young) which is troubling news & the stock has gapped down under Sept/Oct lows on heavy volume right at the open. While the structure of the decline from earlier this year has made a near roundtrip from the gains from last December, the good news is that this should be the final stage of the decline as this breakdown kicks off the 5th wave of this pullback. the bad news is that hoping for a technical bottom on this gapdown will likely prove premature now, and i expect SMCI to return to the low 20s where it stabilized last year in late 2023. Thus, at $36, down 26% in one day is certainly a shocking one-day decline, it's difficult to make the technical case for a bounce like what was possible back in late September. This chart shows the ABC-type bounce attempt which has now given way to this new wave lower today. SMCI is a "technical Avoid" at a minimum, & i expect lower prices into December.
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Thu, September 12, 2024 | 4:47PM ET

⚡ FlashInsights

Thu, September 12, 2024 | 4:47PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
Super Micro Computer has begun to bounce given its positive momentum divergence & exhaustion on its recent pullback into 9/6. This breakdown to new lows was immediately suspect when the stock immediately climbed back on 9/9 to recapture the area from 8/28, a decline which happened on very heavy volume. Yesterday's follow-through was much needed, but as seen on daily charts, trends remain quite negative, and there should be no reason to attempt to buy dips on anything which is near 52-week lows. That being said, gains do look likely in the short run up to $487, then 513 (which would fill the gap from 8/27, and then $591 would be possible over 513, which take some time given the ongoing bearish momentum in this stock. At present, it's necessary for SMCI -7.86%  to break its current downtrend and show evidence of volume expanding before putting too much trust in this being a major bottom. For now, tactical rallies look to continue into next week.
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Mon, August 26, 2024 | 12:07PM ET

⚡ FlashInsights

Mon, August 26, 2024 | 12:07PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
Today's mild pullback in SPX and QQQ is nearly entirely large-cap Technology driven, as weakness out of SMCI -7.86% , MU 4.34% , AMAT 0.03% , AVGO 24.44%  of 3%+ has caused XLK to lose 1% while most other sectors are positive. On an Equal-weighted basis, Technology is the only down sector and Advance/Decline is nearly 2/1 positive, with gains of more than +0.50% out of Real Estate, Utilities and Staples. Both US Dollar and Yields are up fractionally, but otherwise, a rather slow start to the final week of August. Note, NASDAQ has not pulled back under the lows from late last week. As seen in this hourly chart of NASDAQ futures, under 19542 would result in a move to 19365 most likely which would prove to be strong support and a good risk/reward ahead of NVDA -2.42%  earnings on Wednesday. Overall, most of the market working fine today despite some minor Tech weakness and both Equal-weighted S&P 500 (RSP -0.42% ) along with Russell 2k (IWM -0.81% ) etfs are both positive this morning.
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