SMCI May Fall Another 24% from Its Current Price of $443.49-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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SMCI May Fall Another 24% from Its Current Price of $443.49

Tiger_James Ooi
08-29

I have never been fond of SMCI $SUPER MICRO COMPUTER INC(SMCI)$ ; please refer to my previous articles on SMCI here and here.

SMCI may continue its downtrend and only find significant support at $336:

1) Analysts may start to downgrade SMCI:

Based on Bloomberg consensus, there are still 8 analysts recommending a Buy, 10 recommending a Hold, and only 1 recommending a Sell.

They have not yet started downgrading SMCI, as the 12-month consensus target price is still $737.29, representing a 66.2% upside potential relative to yesterday's closing price of $443.49.

Source: Bloomberg, 29 Aug 2024

2) Technical analysis suggests major support at $336

SMCI stock has pierced through most Fibonacci retracement levels; traders may only find major support at the 78.6% Fibonacci retracement at $336.

Source: Tiger PC App

3) There's never just one cockroach in the kitchen:

The alleged accounting manipulation highlighted by Hindenburg Research may be just the tip of the iceberg.

Investors should avoid any company associated with potential accounting manipulation. SMCI's delayed filing of its annual report yesterday raises further concerns.

Conclusion:

Do not catch the falling knife.

Modify on 2024-08-29 17:03

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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HaydenBruce
·08-29
It sounds like you've done your research and have some valid concerns about SMCI.
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lolmei
·08-29
Wow, great analysis! Avoiding SMCI seems wise. [Smart]
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SMCI's delayed filing of its annual report yesterday raises further concerns.</p>\n<p>&nbsp;</p>\n<blockquote>\n <strong>Conclusion:</strong>\n</blockquote>\n<p><strong>Do not catch the falling knife.</strong></p></body></html>","htmlText":"<html><head></head><body><p>I have never been fond of SMCI <a href=\"https://ttm.financial/S/SMCI\">$SUPER MICRO COMPUTER INC(SMCI)$</a> ; please refer to my previous articles on SMCI<a href=\"https://ttm.financial/post/336065215328688\"> here</a> and <a href=\"https://ttm.financial/post/281051084812560\">here</a>.</p>\n<blockquote>\n <strong>SMCI may continue its downtrend and only find significant support at $336:</strong>\n</blockquote>\n<p><strong>1) Analysts may start to downgrade SMCI</strong>:</p>\n<p>Based on Bloomberg consensus, there are still 8 analysts recommending a Buy, 10 recommending a Hold, and only 1 recommending a Sell.</p>\n<p>They have not yet started downgrading SMCI, as the 12-month consensus target price is still $737.29, representing a 66.2% upside potential relative to yesterday's closing price of $443.49.</p>\n<p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/e256bd1ee2897d030638d322d0f74c32\" tg-width=\"1022\" tg-height=\"816\"><span>Source: Bloomberg, 29 Aug 2024</span></p>\n<p>&nbsp;</p>\n<p><strong>2) Technical analysis suggests major support at $336</strong></p>\n<p>SMCI stock has pierced through most Fibonacci retracement levels; traders may only find major support at the 78.6% Fibonacci retracement at $336.&nbsp;</p>\n<p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/088c47773013c13f65541e3193531c0d\" tg-width=\"1820\" tg-height=\"941\"><span>Source: Tiger PC App</span></p>\n<p><strong>3) There's never just one cockroach in the kitchen:</strong></p>\n<p>The alleged accounting manipulation highlighted by Hindenburg Research may be just the tip of the iceberg.</p>\n<p>Investors should avoid any company associated with potential accounting manipulation. SMCI's delayed filing of its annual report yesterday raises further concerns.</p>\n<p>&nbsp;</p>\n<blockquote>\n <strong>Conclusion:</strong>\n</blockquote>\n<p><strong>Do not catch the falling knife.</strong></p></body></html>","text":"I have never been fond of SMCI $SUPER MICRO COMPUTER INC(SMCI)$ ; please refer to my previous articles on SMCI here and here. SMCI may continue its downtrend and only find significant support at $336: 1) Analysts may start to downgrade SMCI: Based on Bloomberg consensus, there are still 8 analysts recommending a Buy, 10 recommending a Hold, and only 1 recommending a Sell. They have not yet started downgrading SMCI, as the 12-month consensus target price is still $737.29, representing a 66.2% upside potential relative to yesterday's closing price of $443.49. Source: Bloomberg, 29 Aug 2024 2) Technical analysis suggests major support at $336 SMCI stock has pierced through most Fibonacci retracement levels; traders may only find major support at the 78.6% Fibonacci retracement at $336. Source: Tiger PC App 3) There's never just one cockroach in the kitchen: The alleged accounting manipulation highlighted by Hindenburg Research may be just the tip of the iceberg. Investors should avoid any company associated with potential accounting manipulation. SMCI's delayed filing of its annual report yesterday raises further concerns. Conclusion: Do not catch the falling knife.","highlighted":1,"essential":2,"paper":2,"likeSize":40,"commentSize":2,"repostSize":10,"favoriteSize":0,"link":"https://ttm.financial/post/343623415144448","repostId":0,"isVote":1,"tweetType":1,"viewCount":1944,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["SMCI"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":998,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":343650427994400,"commentId":"343650427994400","gmtCreate":1724928530986,"gmtModify":1724987048035,"authorId":9000000000000565,"author":{"id":9000000000000565,"idStr":"9000000000000565","authorId":9000000000000565,"name":"HaydenBruce","avatar":"https://static.tigerbbs.com/bf65ca86aeb00567f8edf7489edd03ae","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":343623415144448,"objectIdStr":"343623415144448","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"It sounds like you've done your research and have some valid concerns about SMCI.","text":"It sounds like you've done your research and have some valid concerns about SMCI.","html":"It sounds like you've done your research and have some valid concerns about SMCI.","likeSize":1,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":343650062803064,"commentId":"343650062803064","gmtCreate":1724928531725,"gmtModify":1724987048116,"authorId":3479274765649363,"author":{"id":3479274765649363,"idStr":"3479274765649363","authorId":3479274765649363,"name":"lolmei","avatar":"https://static.tigerbbs.com/68b6583f2225af9e47d6576367702edb","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":343623415144448,"objectIdStr":"343623415144448","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"Wow, great analysis! Avoiding SMCI seems wise. [Smart]","text":"Wow, great analysis! Avoiding SMCI seems wise. [Smart]","html":"Wow, great analysis! Avoiding SMCI seems wise. [Smart]","likeSize":1,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0}],"hasMoreComment":true,"orderType":2}