Volatile ride for COMSovereign Holding Corp. stock price on Tuesday moving between $0.115 and $0.164

The COMSovereign Holding Corp. stock price fell by -13.17% on the last day (Tuesday, 6th Dec 2022) from $0.139 to $0.121. During the last trading day the stock fluctuated 42.48% from a day low at $0.115 to a day high of $0.164. The price has risen in 6 of the last 10 days and is up by 107.22% over the past 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 -37 thousand shares and in total, 224 million shares were bought and sold for approximately $27.03 million.

EF Hutton is very positive about COMS and gave it a "" rating on Nov 29, 2021. The price target was set to 2.1.

The stock lies the upper part of a very wide and falling 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 $0.139 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Given the current short-term trend, the stock is expected to fall -9.00% during the next 3 months and, with a 90% probability hold a price between $0.0315 and $0.126 at the end of this 3-month period.

The COMSovereign Holding Corp. 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 $0.115 and $0.0799. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, December 05, 2022, and so far it has fallen -13.17%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

COMSovereign Holding Corp. finds support from accumulated volume at $0.119 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 $0.0489 between high and low, or 42.48%. For the last week, the stock has had daily average volatility of 30.32%.

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.