Comtech Telecommunications Corp. stock upgraded to Hold/Accumulate.
(Updated on Dec 08, 2021)
Hold candidate since 2021-12-08 PDF
The Comtech Telecommunications Corp. stock price gained 0.48% on the last trading day (Wednesday, 8th Dec 2021), rising from $25.14 to $25.26. During the day the stock fluctuated 2.58% from a day low at $25.17 to a day high of $25.82. The price has fallen in 6 of the last 10 days and is down by -4.57% for this period. Volume fell on the last day by -74 thousand shares and in total, 121 thousand shares were bought and sold for approximately $3.06 million. 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 lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.25% during the next 3 months and, with a 90% probability hold a price between $22.88 and $29.73 at the end of this 3-month period.
Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $25.37 and $25.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, November 09, 2021, and so far it has fallen -8.01%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss
On the downside, the stock finds support just below today's level from accumulated volume at $22.63 and $22.40. There is 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, Comtech Telecommunications Corp. finds support just below today's level at $22.63. If this is broken, then the next support from accumulated volume will be at $22.40 and $20.87.
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 $0.65 between high and low, or 2.58%. For the last week, the stock has had a daily average volatility of 3.63%.
Our recommended stop-loss: $24.32 (-3.74%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 20 days ago.)
Is Comtech Telecommunications Corp. stock A Buy?
Comtech Telecommunications Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.837
Predicted Opening Price for Comtech Telecommunications Corp. of Thursday, December 9, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 9, 2021||Current price|
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On Oct 05, 2021 "Citigroup" gave "$26.00 - $24.00" rating for CMTL. The price target was changed from $24.38 to 3.9%.
CMTL Insider Trading
|Oct 04, 2021||Sell||228||Bondi Michael||Common Stock Par Value $.10 Per Share|
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|Oct 04, 2021||Buy||800||Porcelain Michael||Common Stock Par Value $.10 Per Share|
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