--- title: "Pre-Market Trend | Sanmina (SANM.US): Death Cross Follows a Rebound That Could Not Clear the 20-Day Line" type: "News" locale: "en" url: "https://longbridge.com/en/news/298043573.md" description: "Sanmina's (SANM.US) daily MACD flipped to a death cross yesterday, DIF crossing under DEA with both indicator lines beneath the zero axis. The stock had rebounded more than 4% on turnover of about USD 114 million, but the move stalled below the 20-day moving average, so it reads as a technical repair rather than the end of the pullback. The catalyst was macro plus sector strength: on September 3, Federal Reserve Governor Christopher Waller signaled he leans toward holding rates unchanged at the September Federal Open Market Committee meeting, and semiconductor and AI hardware names firmed. Doubts persist after late-July results that beat on revenue of about USD 3.46 billion, with investors wary of AI and cloud revenue concentration and integration execution risk. The stock has reclaimed its 5-day and 10-day moving averages yet stays capped by the 20-day near USD 198. The near-term bias is bearish; watch tonight's US nonfarm payrolls data, AI hardware momentum, and whether volume supports a reclaim of the 20-day line." datetime: "2026-09-04T13:13:09.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/298043573.md) - [en](https://longbridge.com/en/news/298043573.md) - [zh-HK](https://longbridge.com/zh-HK/news/298043573.md) generator: "portal-rs" --- # Pre-Market Trend | Sanmina (SANM.US): Death Cross Follows a Rebound That Could Not Clear the 20-Day Line Sanmina (SANM.US) now carries a fresh daily MACD death cross, a sign that yesterday's rebound was a technical repair rather than the end of the pullback. DIF crossed below DEA in the last session, with both indicator lines under the zero axis. The stock gained more than 4% on turnover of about USD 114 million, and volume ran modestly ahead of the prior session. But the move stalled right beneath the 20-day moving average. The 5-day and 10-day moving averages are turning up again, yet the 10-day had already slipped under the 20-day. Medium-term lines stay bearish, and the near-term bias follows. Yesterday's bid came from a macro and sector tailwind. On September 3, Federal Reserve Governor Christopher Waller signaled he leans toward holding rates unchanged at the September Federal Open Market Committee meeting, easing worries about another hike. Semiconductors and AI-compute names firmed as a group, and Sanmina moved with them. It is AMD's manufacturing partner for AI rack-scale systems after completing the purchase of ZT Systems' manufacturing business in October 2025. The medium-term doubts are still unresolved. Quarterly results disclosed in late July showed revenue of about USD 3.46 billion, up nearly 70% from a year earlier, and a non-GAAP operating margin near 8%. The print beat expectations, yet investors remain wary of AI and cloud revenue concentration and of integration execution risk. The stock fell more than 20% intraday on the day of the release and has swung in a wide range since. Money is moving in two directions at once. Late-August filings show De Lisle Partners and other institutions adding or opening second-quarter positions, and one brokerage raised its rating to strong-buy in early August. Over the same stretch the CFO trimmed under a pre-arranged trading plan and a director made a small sale on August 28, so some insiders are taking partial profits. The chart still caps Sanmina from above. The stock has reclaimed its 5-day and 10-day moving averages, but the 20-day near USD 198 and the 30-day remain overhead resistance. Bollinger bands are opening wider and volatility is picking up, so the short-term swing range is expanding. The MACD death cross comes on top of the 10-day's earlier slip below the 20-day, so the rebound probably stays a repair move unless volume expands further and price holds the 20-day line. What to watch today: risk appetite into tonight's US nonfarm payrolls report, AI hardware momentum, and the pace at which AMD-related orders land. The near-term bias is bearish, and the repair attempt still needs fresh money to confirm it. If sector heat fades or volume dries up again, the shares could retest the lows near the start of September. Only a reclaim of the 20-day moving average on expanding volume would falsify the death cross and ease the correction pressure. Until the next earnings report, volume-price action and industry order data are the main check on whether the signal holds. *This content is for informational purposes only and does not constitute investment advice, a recommendation, or an offer or solicitation to buy or sell any security or capital markets product. It has been prepared without regard to your individual investment objectives, financial situation, or particular needs. Investing involves risk, including the possible loss of principal; past performance is not indicative of future results. Longbridge and its affiliates accept no liability for any loss arising from reliance on this material.* ### Related Stocks - [SANM.US](https://longbridge.com/en/quote/SANM.US.md) ## Related News & Research - [Sanmina (SANM) Shares Jumped, What Is Driving Attention Now?](https://longbridge.com/en/news/298073372.md) - [Sanmina director Susan A. 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