Com Holding Companies Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
A very strong day for Com Holding Companies stock price on Friday
(Updated on Apr 19, 2024)
The Com Holding Companies stock price gained 5.59% on the last trading day (Friday, 19th Apr 2024), rising from $6.80 to $7.18. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.88% from a day low at $6.80 to a day high of $7.20. The price has risen in 8 of the last 10 days and is up by 35.98% over the past 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 65 thousand shares were bought and sold for approximately $468.58 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $6.14, a level that may pose a second chance to hit a runner. According to fan-theory $7.21 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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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 $6.60 and $5.27. 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 56.09%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.400 between high and low, or 5.88%. For the last week the stock has had daily average volatility of 5.62%.
The Com Holding Companies stock is extremely overbought on RSI14 (94). 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.
Our recommended stop-loss: $6.93 (-3.50%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 94 and this increases the risk substantially. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (CHCI) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Comstock Holding Companies to open at $7.06, and during the day (based on 14 day Average True Range), to move between $6.90 and $7.46, which gives a possible trading interval of +/-$0.280 (+/-3.90%) up or down from last closing price. If Comstock Holding Companies takes out the full calculated possible swing range there will be an estimated 7.79% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $6.80, some $0.380 (5.29%) from the current price of $7.18, 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. 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 Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $7.06 ( 1.67%) | $7.18 |
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 | 7.46 | 3.90 % | |
| R2 | 7.31 | 1.77 % | ||
| R1 | 7.21 | 0.457 % | ||
| Current price: | 7.18 | |||
| Support | S1 | 6.91 | -3.80 % | |
| S2 | 6.81 | -5.11 % | ||
| S3 | 6.66 | -7.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 7.18 | |||
| Support | S1 | 6.80 | -5.29% | |
| S2 | 6.44 | -10.31% | ||
| S3 | 6.29 | -12.40% |
FAQ
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