CommScope Holding Company 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
CommScope Holding Company stock price ended at $0.87 on Wednesday, after losing 2.90%.
(Updated on May 01, 2024)
The CommScope Holding Company stock price fell by -2.90% on the last day (Wednesday, 1st May 2024) from $0.89 to $0.87. During the last trading day the stock fluctuated 7.64% from a day low at $0.86 to a day high of $0.93. The price has fallen in 6 of the last 10 days and is down by -12.32% for this period. Volume has increased on the last day by 156 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately $2.78 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 $0.83, a level that may pose a second chance to hit a runner. According to fan-theory $1.54 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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COMM Signals & Forecast
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. The CommScope Holding Company stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.95 and $1.17. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -45.74%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for CommScope Holding Company stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0660 between high and low, or 7.64%. For the last week, the stock has had daily average volatility of 11.56%.
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 Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect CommScope Holding Company to open at $0.89, and during the day (based on 14 day Average True Range), to move between $0.763 and $0.97, which gives a possible trading interval of +/-$0.105 (+/-12.06%) up or down from last closing price. If CommScope Holding Company takes out the full calculated possible swing range there will be an estimated 24.12% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.91, some $0.0466 (5.37%) from the current price of $0.87, our system finds the risk reward not very attractive.
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 is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -5.869 Strong Sell Candidate Unchanged
Predicted Opening Price for CommScope Holding Company of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $0.89 ( 2.22%) | $0.87 |
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 | 0.95 | 9.82 % | |
| R2 | 0.93 | 6.92 % | ||
| R1 | 0.91 | 5.12 % | ||
| Current price: | 0.87 | |||
| Support | S1 | 0.86 | -0.685 % | |
| S2 | 0.85 | -2.48 % | ||
| S3 | 0.82 | -5.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.04 | 19.80 % | |
| R2 | 1.02 | 17.50 % | ||
| R1 | 0.91 | 5.37 % | ||
| Current price | 0.87 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy CommScope Holding Company Stock.
