On the daily chart, SuperMicro Computers Inc. (SMCI) is in the last stage of a corrective flat pattern that began at the start of 2025. The stock is currently advancing through wave {v} of C, indicating that the countertrend structure is nearly complete. This upward move is expected to form the final leg in the ongoing correction before the larger trend resumes.

SMCI Elliott Wave technical analysis – One-hour chart

Function: Counter trend.

Mode: Corrective.

Structure: Flat.

Position: Wave (ii) of {v}.

Direction: Upside into wave (iii).

Details: Wave (ii) seems to have completed. Price is nearing the $50 mark, a key level to confirm further upside potential.

In the 1-hour view, SMCI appears to have bottomed in wave (ii) of {v} and is now progressing into wave (iii). The price is closing in on the $50 level, a key area where prior support may be retested. If the price sustains above this zone, it would strengthen the bullish outlook and confirm the continuation of wave (iii), leading to the completion of wave C.

SuperMicro Computers Inc. (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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