Comtech Telecommunications Corp. Stock Forecast
Red day on Thursday for Comtech Telecommunications Corp.
(Updated on Mar 28, 2024)
The Comtech Telecommunications Corp. stock price fell by -2.28% on the last day (Thursday, 28th Mar 2024) from $3.51 to $3.43. During the last trading day the stock fluctuated 9.97% from a day low at $3.31 to a day high of $3.64. The price has been going up and down for this period, and there has been a -24.62% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -405 thousand shares and in total, 862 thousand shares were bought and sold for approximately $2.96 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.98 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -45.47% during the next 3 months and, with a 90% probability hold a price between $1.63 and $2.89 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CMTL Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 9.58%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Comtech Telecommunications Corp. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $5.52. On a fall, the stock will find some support from the short-term average at $3.32. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Comtech Telecommunications Corp. stock
Comtech Telecommunications Corp. finds support from accumulated volume at $3.28 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.330 between high and low, or 9.97%. For the last week, the stock has had daily average volatility of 10.60%.
Comtech Telecommunications Corp. is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CMTL) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Comtech Telecommunications Corp. to open at $3.46, and during the day (based on 14 day Average True Range), to move between $2.98 and $3.88, which gives a possible trading interval of +/-$0.454 (+/-13.25%) up or down from last closing price. If Comtech Telecommunications Corp. takes out the full calculated possible swing range there will be an estimated 26.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.46 (0.87%) than the support at $3.28 (4.37%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Comtech Telecommunications Corp. stock A Buy?
Comtech Telecommunications Corp. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -4.269 Sell Candidate Unchanged
Predicted Opening Price for Comtech Telecommunications Corp. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$3.46 ( 0.87%) | $3.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CMTL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.79 | 10.50 % | |
R2 | 3.66 | 6.82 % | ||
R1 | 3.59 | 4.55 % | ||
Current price: | 3.43 | |||
Support | S1 | 3.33 | -2.80 % | |
S2 | 3.26 | -5.07 % | ||
S3 | 3.13 | -8.75 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.19 | 22.16 % | |
R2 | 3.51 | 2.33 % | ||
R1 | 3.46 | 0.87 % | ||
Current price | 3.43 | |||
Support | S1 | 3.28 | -4.37% | |
S2 | 3.21 | -6.41% | ||
S3 | 3.13 | -8.75% |
CMTL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 08, 2022 | Jan 17, 2023 | Feb 17, 2023 | $0.100 | 0.621% |
2 | Sep 29, 2022 | Oct 18, 2022 | Nov 18, 2022 | $0.100 | 0.86% |
3 | Jun 09, 2022 | Jul 19, 2022 | Aug 19, 2022 | $0.100 | 0.82% |
4 | Mar 10, 2022 | Apr 19, 2022 | May 20, 2022 | $0.100 | 0.83% |
5 | Dec 09, 2021 | Jan 18, 2022 | Feb 18, 2022 | $0.100 | 0.488% |
FAQ
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