Com Resources Inc Stock Forecast
Com Resources Inc stock upgraded to Strong Buy Candidate.
(Updated on Apr 24, 2024)
The Com Resources Inc stock price gained 3.78% on the last trading day (Wednesday, 24th Apr 2024), rising from $9.78 to $10.15. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 5.85% from a day low at $9.65 to a day high of $10.22. The price has risen in 6 of the last 10 days and is up by 2.53% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $45.27 million.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $10.44 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 26.98% during the next 3 months and, with a 90% probability hold a price between $11.42 and $13.25 at the end of this 3-month period.
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CRK Signals & Forecast
The Com Resources Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $9.53 and $8.95. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 14, 2024, and so far it has risen 39.42%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Com Resources Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $8.86 and $8.33. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Com Resources Inc finds support just below today's level at $8.86. If this is broken, then the next support from accumulated volume will be at $8.33 and $8.00.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.565 between high and low, or 5.85%. For the last week, the stock has had daily average volatility of 4.51%.
Since the Com Resources Inc has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $9.78 (-3.60%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 48 days ago.)
Trading Expectations (CRK) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Comstock Resources Inc to open at $10.01, and during the day (based on 14 day Average True Range), to move between $9.77 and $10.53, which gives a possible trading interval of +/-$0.375 (+/-3.70%) up or down from last closing price. If Comstock Resources Inc takes out the full calculated possible swing range there will be an estimated 7.40% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $8.86, some $1.29 (12.71%) from the current price of $10.15, our system finds the risk reward attractive.
Earnings coming up
Comstock Resources Inc will release earnings AMC on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0500. We will update the financials statements for Comstock Resources Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.88% in the first trading day after earnings release.
Is Comstock Resources Inc stock A Buy?
Com Resources Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.032 Strong Buy Candidate Upgraded
Predicted Opening Price for Comstock Resources Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $10.01 ( 1.43%) | $10.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.57 | 4.14 % | |
| R2 | 10.35 | 2.01 % | ||
| R1 | 10.22 | 0.698 % | ||
| Current price: | 10.15 | |||
| Support | S1 | 9.79 | -3.55 % | |
| S2 | 9.66 | -4.87 % | ||
| S3 | 9.44 | -7.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 10.15 | |||
| Support | S1 | 8.86 | -12.71% | |
| S2 | 8.33 | -17.93% | ||
| S3 | 8.00 | -21.18% |
CRK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 30, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.125 | 1.40% |
| 2 | Jul 31, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.125 | 1.08% |
| 3 | May 01, 2023 | May 31, 2023 | Jun 15, 2023 | $0.125 | 1.17% |
| 4 | Feb 13, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.125 | 1.22% |
| 5 | Nov 01, 2022 | Nov 30, 2022 | Dec 15, 2022 | $0.125 | 0.796% |
FAQ
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