Super Micro Computer Inc.(SMCI) Elliott Wave technical analysis [Video]

The post Super Micro Computer Inc.(SMCI) Elliott Wave technical analysis [Video] appeared on BitcoinEthereumNews.com. SMCI Elliott Wave Analysis Trading Lounge Daily Chart. Super Micro Computer Inc., (SMCI) Daily Chart. SMCI Elliott Wave technical analysis Function: Counter Trend. Mode: Corrective. Structure: Flat. Position: Microwave 4. Direction: Completion of triangle in micro wave 4. Details: Looking for a correction to evolve around TL1 at 1000$. Looking for a completion of the triangle in wave 4 or else we could be in a sideways wave B of 4 to then continue lower towards 800$. On April 19, 2024, our Elliott Wave analysis of Super Micro Computer Inc. (Ticker: SMCI) focuses on the latest stock patterns captured on both daily and 4-hour charts. This analysis aims to provide investors with precise insights into potential future movements and price stabilization points. SMCI Elliott Wave technical analysis – Daily chart Our detailed review of the daily trading chart for SMCI shows the stock currently in a corrective counter trend phase, characterized by a flat structure, labeled as micro wave 4. The analysis suggests a pattern formation pointing towards the completion of a triangle within this wave. Investors should closely monitor the price behavior around the critical level of $1000, a potential turning point. If the triangle does not resolve as expected, the stock may enter a sideways corrective phase (wave B of 4), potentially pushing the price towards the $800 mark. SMCI Elliott Wave Analysis Trading Lounge 4Hr Chart Super Micro Computer Inc., (SMCI) 4Hr Chart SMCI Elliott Wave technical analysis Function: Counter Trend. Mode: Corrective. Structure: Flat. Position: Wave (v) of {c}. Direction: Completion of triangle in micro wave 4. Details: Here we dig deeper into the triangle solution. We could continue sideways for some more time as earning report is on April 30th. SMCI Elliott Wave technical analysis – Four-hour chart Zooming into the 4-hour chart, SMCI’s stock provides a more granular view of the ongoing corrective phase, particularly wave (v) of {c}, which aligns with…