COMSovereign Holding Corp. Stock Forecast
High volatility in COMSovereign Holding Corp. stock price on Tuesday which ended trading at $0.0401
(Updated on Jul 02, 2024)
The COMSovereign Holding Corp. stock price fell by -42.71% on the last day (Tuesday, 2nd Jul 2024) from $0.0700 to $0.0401. During the last trading day the stock fluctuated 12.34% from a day low at $0.0401 to a day high of $0.0451. The price has been going up and down for this period, and there has been a -7.39% loss for the last 2 weeks. Volume has increased on the last day by 301 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, 301 shares were bought and sold for approximately $12.07 .
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -67.61% during the next 3 months and, with a 90% probability hold a price between $0.0052 and $0.0262 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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COMS 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 COMSovereign Holding Corp. 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 $0.0616 and $0.124. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -59.90%. Further fall is indicated until a new bottom pivot has been found. COMSovereign Holding Corp. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for COMSovereign Holding Corp. 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 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 $0.0050 between high and low, or 12.34%. For the last week, the stock has had daily average volatility of 2.47%.
Our recommended stop-loss: $0.0380 (-5.34%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (COMS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect COMSovereign Holding Corp. to open at $0.0418, and during the day (based on 14 day Average True Range), to move between $0.0161 and $0.0641, which gives a possible trading interval of +/-$0.0240 (+/-59.73%) up or down from last closing price. If COMSovereign Holding Corp. takes out the full calculated possible swing range there will be an estimated 119.47% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0433, some $0.0032 (7.98%) from the current price of $0.0401, our system finds the risk reward not very attractive.
Is COMSovereign Holding Corp. stock A Buy?
COMSovereign Holding 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.
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 COMSovereign Holding Corp. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.0418 ( 4.11%) | $0.0401 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COMS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0467 | 16.46% |
| R2 | 0.0448 | 11.74% |
| R1 | 0.0436 | 8.83% |
| Price | 0.0401 | |
| S1 | 0.0399 | -0.601% |
| S2 | 0.0387 | -3.51% |
| S3 | 0.0368 | -8.23% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0.0433 | 7.98% |
| Price | 0.0401 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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