Super Micro Computer Rises 4.83% as Technicals Signal Bullish Continuation

Candlestick Theory
Super Micro Computer's recent price action reveals key technical levels through candlestick patterns. The June 3 close at $43.19 (+4.83%) marks a second consecutive bullish candle, forming a minor bullish continuation pattern after the May 30 hammer at $40.02 (low: $39.05), which established initial support near $39. Critical resistance is observed at $44-47, tested multiple times in May (e.g., May 29 high: $43.97, rejection candle). The February 27 shooting star at $50.0 followed by a gap down signals major resistance near $50, while the April 30 long bearish candle ($31.86, -11.5%) identifies $28.78 as a swing low support anchor.
Moving Average Theory
Trend alignment shows mixed signals across timeframes. The 50-day moving average (~$40.67 calculated near recent prices) supported the current rebound, with June 2-3 closes firmly above it. However, the 200-day MA (~$70) remains well above price, reflecting the prolonged correction from February's $62.47 peak. A bullish golden cross occurred in Q1 2025 (50-day crossing above 100-day), but the subsequent death cross in April (50-day below 200-day) confirms the dominant long-term downtrend. The 100-day MA (~$50) acts as overhead resistance, coinciding with February’s distribution zone.
MACD & KDJ Indicators
MACD histogram shows nascent positive momentum, with the June 3 uptick suggesting potential bullish crossover confirmation. KDJ analysis reveals overbought risk: The K-line (78) and D-line (72) are near overbought territory (above 80), though not yet extreme. However, the May MACD bearish crossover during the $47.8 resistance retest preceded the 15% sell-off, illustrating its predictive utility. Current KDJ’s northward trajectory supports short-term upside but warns of pullback vulnerability.
Bollinger Bands
Volatility contraction is evident, with the 20-day Bollinger Band width narrowing significantly since April’s expansion period. Price currently tests the upper band (~$43.5), signaling near-term overextension. Repeated touches of the lower band in April–May (e.g., April 30, May 13) marked exhaustion points, enabling reversals. A sustained close above the upper band would require volume confirmation to indicate breakout validity.
Volume-Price Relationship
Volume analysis exposes sustainability concerns. The recent 7.92% two-day rally saw average volume (33.9M shares/day) versus the May 14 explosive surge (+15.71%) on 169M shares – suggesting weaker conviction. Distribution patterns are visible near $47-50 (February–March: 100M+ volume days on declines), while accumulation occurred at April’s $28.78 low (98.3M shares). Current volume remains below the 50-day average, undermining the rebound’s robustness.
Relative Strength Index (RSI)
RSI (14-day) sits at 62, recovering from May’s oversold trough (30.5 on May 13) but below the overbought 70 threshold. Bearish divergence occurred in February: Prices hit $62.47 while RSI peaked at 68 (lower high), foreshadowing the collapse. Current neutrality allows room for upside, though convergence with KDJ overbought signals merits caution at $44-45 resistance.
Fibonacci Retracement
Applying Fibonacci to the April swing low ($28.78) and February peak ($62.47): The 61.8% retracement level ($41.15) aligned with May 29 support, while the 38.2% level ($50.30) capped May’s recovery attempt. Critical confluence exists at the 78.6% retracement ($38.50), reinforcing the $38-39 support zone (50-day MA + May lows). A decisive break above the 23.6% level ($54.60) would signal trend reversal potential.
Confluence & Divergence Summary
Strong confluence anchors support at $38-39 (50-day MA, Fibonacci 78.6%, volume node). Resistance remains formidable at $44-45 (multi-tested highs, Bollinger upper band, VWAP resistance). Bearish divergence emerged in February (price/RSI), while current bullish MACD/price alignment lacks volume confirmation. Probable near-term consolidation is expected between $39–44, with breakouts requiring volume expansion and indicator consensus for validation.