SMCI Elliott Wave Analysis – Trading Lounge Daily Chart
Super Micro Computer Inc. (SMCI) Daily Chart Analysis
SMCI Elliott Wave Technical Analysis
- Function: Counter Trend
- Mode: Corrective
- Structure: Zigzag
- Position: Wave C of (B)
- Direction: Upside in wave C
SMCI Analysis & Market Outlook
SMCI is currently experiencing a corrective zigzag pattern, unfolding within wave C of (B). After a significant wave (A) decline from March to November 2024, the stock has begun a retracement phase. This move suggests wave B is complete, and wave C is now developing with a short-term upside target.
Traders should focus on key resistance levels and Fibonacci retracement zones, as price action might push above recent highs before resuming a broader correction. Monitoring volume and momentum indicators will help validate the strength of the uptrend.
SMCI Elliott Wave Technical Analysis – 1H Chart
Super Micro Computer Inc. (SMCI) 1-Hour Chart Analysis
- Function: Counter Trend
- Mode: Corrective
- Structure: Zigzag
- Position: Wave {i} of C
- Direction: Upside into wave {i}
SMCI Short-Term Market Insight
On the 1-hour chart, SMCI seems to have found a bottom in wave {c} of B, indicating the beginning of wave {i} of C. The stock has dropped just short of wave equality, hinting at a potential reversal.
If momentum gains traction, a strong retracement could follow, but traders must be mindful of resistance levels and possible pullbacks. Breakout confirmations and volume trends will be crucial in assessing the sustainability of the current upward move.
Technical Analyst: Alessio Barretta
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