CommScope Holding Company Stock Forecast
On Tuesday, CommScope Holding Company stock price gained an impressive 6.30%
(Updated on May 07, 2024)
The CommScope Holding Company stock price gained 6.30% on the last trading day (Tuesday, 7th May 2024), rising from $0.92 to $0.98. During the last trading day the stock fluctuated 8.87% from a day low at $0.94 to a day high of $1.02. The price has been going up and down for this period, and there has been a -1.55% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 83 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $3.31 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.82, a level that may pose a second chance to hit a runner. According to fan-theory $1.52 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
COMM Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 13.20%. 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). 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. The CommScope Holding Company stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.11. On a fall, the stock will find some support from the short-term average at $0.96. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for CommScope Holding Company stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.92 and $0.92. 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, CommScope Holding Company finds support just below today's level at $0.92. If this is broken, then the next support from accumulated volume will be at $0.92 and $0.91.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0831 between high and low, or 8.87%. For the last week, the stock has had daily average volatility of 14.35%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (COMM) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect CommScope Holding Company to open at $0.98, and during the day (based on 14 day Average True Range), to move between $0.87 and $1.10, which gives a possible trading interval of +/-$0.117 (+/-11.88%) up or down from last closing price. If CommScope Holding Company takes out the full calculated possible swing range there will be an estimated 23.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.02 (3.80%) than the support at $0.92 (5.92%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
CommScope Holding Company will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.230. We will update the financials statements for CommScope Holding Company, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 13.97% in the first trading day after earnings release.
Is CommScope Holding Company stock A Buy?
CommScope Holding Company holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.675 Sell Candidate Upgraded
Predicted Opening Price for CommScope Holding Company of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $0.98 ( 0.288%) | $0.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COMM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.06 | 8.17 % | |
| R2 | 1.03 | 4.94 % | ||
| R1 | 1.01 | 2.94 % | ||
| Current price: | 0.98 | |||
| Support | S1 | 0.95 | -3.52 % | |
| S2 | 0.93 | -5.51 % | ||
| S3 | 0.90 | -8.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.17 | 18.55 % | |
| R2 | 1.10 | 11.94 % | ||
| R1 | 1.02 | 3.80 % | ||
| Current price | 0.98 | |||
| Support | S1 | 0.92 | -5.92% | |
| S2 | 0.92 | -6.09% | ||
| S3 | 0.91 | -6.92% |
FAQ
Click here for our free guide on how to buy CommScope Holding Company Stock.
