Com Holding Companies Stock Forecast
Volatile ride for Com Holding Companies stock price on Monday moving between $7.19 and $8.00
(Updated on Apr 22, 2024)
The Com Holding Companies stock price gained 10.58% on the last trading day (Monday, 22nd Apr 2024), rising from $7.18 to $7.94. 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 11.27% from a day low at $7.19 to a day high of $8.00. The price has risen in 8 of the last 10 days and is up by 47.04% 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, 25 thousand more shares were traded than the day before. In total, 91 thousand shares were bought and sold for approximately $719.12 thousand.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $6.38, a level that may pose a second chance to hit a runner.
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CHCI Signals & Forecast
The Com Holding Companies 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 $6.84 and $5.36. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 72.61%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Com Holding Companies has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Com Holding Companies stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.80 and $6.44. 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 Holding Companies finds support just below today's level at $6.80. If this is broken, then the next support from accumulated volume will be at $6.44 and $6.29.
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 $0.81 between high and low, or 11.27%. For the last week, the stock has had daily average volatility of 6.79%.
The Com Holding Companies stock is extremely overbought on RSI14 (96). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the Com Holding Companies has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $7.70 (-3.08%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 96 and this increases the risk substantially. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (CHCI) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Comstock Holding Companies to open at $7.71, and during the day (based on 14 day Average True Range), to move between $7.62 and $8.26, which gives a possible trading interval of +/-$0.318 (+/-4.01%) up or down from last closing price. If Comstock Holding Companies takes out the full calculated possible swing range there will be an estimated 8.02% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $6.80, some $1.14 (14.36%) from the current price of $7.94, our system finds the risk reward attractive.
Is Comstock Holding Companies stock A Buy?
Com Holding Companies holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Comstock Holding Companies of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $7.71 ( 2.90%) | $7.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHCI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.52 | 7.30 % | |
| R2 | 8.21 | 3.41 % | ||
| R1 | 8.02 | 1.00 % | ||
| Current price: | 7.94 | |||
| Support | S1 | 7.40 | -6.79 % | |
| S2 | 7.21 | -9.20 % | ||
| S3 | 6.90 | -13.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 7.94 | |||
| Support | S1 | 6.80 | -14.36% | |
| S2 | 6.44 | -18.89% | ||
| S3 | 6.29 | -20.78% |
FAQ
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