SMCI Elliott Wave Analysis Trading Lounge Daily Chart,SuperMicro Computers Inc., (SMCI) Daily ChartSMCI Elliott Wave Technical AnalysisFUNCTION: Counter TrendMODE: CorrectiveSTRUCTURE: FlatPOSITION: 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).(Click on image to enlarge)SuperMicro Computers Inc., (SMCI) 1H ChartSMCI Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave (i) of {i}DIRECTION: Upside in wave (i).DETAILS: 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.(Click on image to enlarge)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 – 1H 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.More By This Author:
SuperMicro Computers Inc. Stocks Elliott Wave Technical Analysis – Wednesday, October 16
