SuperMicro Computers Inc. (SMCI) Elliott Wave technical analysis [Video]

SMCI Elliott Wave Analysis Trading Lounge Daily Chart,

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: We are exploring the possibility of a bottom in wave (4) which ended with an ending diagonal in wave C of (4).

SuperMicro Computers Inc., (SMCI) 1H Chart

SMCI Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave (i) of {i}.

Direction: Upside in wave (i).

Detaisl: Here we are looking at what appears to be a nice five wave subdivision within wave (i) where we currently seem to be in the final stages of a triangle in wave iv.

This analysis focuses on the current trend structure of SuperMicro Computers Inc., (SMCI) utilizing the Elliott Wave Theory on both the daily and 1-hour charts. Below is a breakdown of the stock’s position and potential future movements.

SMCI Elliott Wave technical analysis – Daily chart

On the daily chart, SMCI appears to have completed a corrective Intermediate wave (4), which ended with an ending diagonal in wave C of (4). This suggests that the correction phase is likely nearing completion, and we may now see the beginning of a bullish move as wave (5) starts to unfold.

SMCI Elliott Wave technical analysis – One-hour chart

On the 1-hour chart, SMCI is progressing through wave (i) of {i}, and we can observe a well-structured five-wave subdivision within this initial impulsive wave. Currently, the stock is in the final stages of a triangle formation in wave iv, suggesting that the next move could be the breakout to complete wave (v) of (i), pushing prices higher.

Technical analyst: Alessio Barretta.

SMCI Elliott Wave technical analysis [Video]