SMCI Elliott Wave Analysis: SuperMicro Computers Inc. Stock Trend Overview
This analysis delves into the current trend structure of SuperMicro Computers Inc. (SMCI) using Elliott Wave Theory on both the daily and 1-hour charts. The following breakdown provides insights into the stock's position and potential future movements.
SMCI Elliott Wave Analysis: Daily Chart Overview
SuperMicro Computers Inc. (SMCI) Daily Chart
SMCI Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Intermediate (4)
Direction: Bottom in wave (4)
Details: The possibility of a bottom forming in wave (4) is being explored, which concluded with an ending diagonal in wave C of (4).
Daily Chart Analysis: Elliott Wave Interpretation
On the daily chart, SMCI seems to have finished a corrective Intermediate wave (4), marked by an ending diagonal in wave C of (4). This pattern indicates that the correction phase could be near its end, suggesting the potential for a bullish shift as wave (5) begins to emerge.
SMCI Elliott Wave Analysis: 1-Hour Chart Overview
SuperMicro Computers Inc. (SMCI) 1-Hour Chart
SMCI Stock Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave (i) of {i}
Direction: Upside in wave (i)
Details: A five-wave subdivision within wave (i) is being observed, with the stock currently in the final stages of a triangle in wave iv.
1-Hour Chart Analysis: Elliott Wave Interpretation
On the 1-hour chart, SMCI is progressing through wave (i) of {i}, with a clear five-wave subdivision visible within this impulsive wave. The stock appears to be in the final stages of a triangle formation in wave iv, signaling the possibility of an imminent breakout that could complete wave (v) of (i), potentially driving prices higher.
Technical Analyst: Alessio Barretta
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