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]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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