SMCI\u00a0Elliott Wave Analysis Trading Lounge Daily Chart<\/a>.<\/p>\n Super Micro Computer Inc., (SMCI) Daily Chart.<\/p>\n Function:<\/strong>\u00a0Counter Trend.<\/p>\n Mode:<\/strong> Corrective.<\/p>\n Structure:<\/strong> Flat.<\/p>\n Position:<\/strong> Microwave 4.<\/p>\n Direction: <\/strong>Completion of triangle in micro wave 4.<\/p>\n Details:<\/strong> Looking for a correction to evolve around TL1 at 1000$. Looking for a completion of\u00a0the triangle in wave 4 or else\u00a0we could be in a sideways wave B of 4 to then continue lower towards\u00a0800$.<\/p>\n On April 19, 2024, our Elliott Wave analysis of Super Micro Computer Inc. (Ticker: SMCI) focuses\u00a0on the latest stock patterns captured on both daily and 4-hour charts. This analysis aims to provide\u00a0investors with precise insights into potential future movements and price stabilization points.<\/p>\n Our detailed review of the daily trading chart for SMCI shows the stock currently in a corrective\u00a0counter trend\u00a0phase, characterized by a flat structure, labeled as micro wave 4. The analysis suggests\u00a0a pattern formation pointing towards the completion of a triangle within this wave. Investors should\u00a0closely monitor the price behavior around the critical level of $1000, a potential turning point. If the\u00a0triangle does not resolve as expected, the stock may enter a sideways corrective phase (wave B of\u00a04), potentially pushing the price towards the $800 mark.<\/p>\n <\/a><\/p>\n SMCI Elliott Wave<\/a> Analysis Trading Lounge 4Hr Chart<\/p>\n Super Micro Computer Inc., (SMCI) 4Hr Chart<\/p>\n Function:<\/strong>\u00a0Counter Trend.<\/p>\n Mode: <\/strong>Corrective.<\/p>\n Structure:<\/strong> Flat.<\/p>\n Position: <\/strong>Wave (v) of {c}.<\/p>\n Direction:<\/strong> Completion of triangle\u00a0in micro wave 4.<\/p>\n Details:<\/strong> Here we dig deeper into the triangle solution. We could continue sideways for some\u00a0more time as earning report is on April 30th.<\/p>\n Zooming into the 4-hour chart, SMCI’s stock provides a more granular view of the ongoing\u00a0corrective phase, particularly wave (v) of {c}, which aligns with the completion of the triangle in\u00a0micro wave 4. The chart suggests that the stock might continue to exhibit sideways movement for\u00a0an extended period, especially as the earnings report date on April 30th approaches, potentially\u00a0impacting stock volatility<\/a> and price direction.<\/p>\n Technical analyst:<\/strong>\u00a0Alessio Barretta.<\/p>\nSMCI Elliott Wave\u00a0technical analysis<\/h2>\n
SMCI Elliott Wave technical analysis \u2013 Daily chart<\/h3>\n
SMCI Elliott Wave technical analysis<\/h2>\n
SMCI Elliott Wave technical analysis \u2013 Four-hour chart<\/h3>\n
![\"Chart\"](\"https:\/\/editorial.fxstreet.com\/miscelaneous\/p2-638491133397211783.png\")
<\/a><\/p>\nSMCI Elliott Wave\u00a0technical analysis [Video]<\/h2>\n