SuperCom Stock Forecast
SuperCom stock downgraded to Strong Sell Candidate
(Updated on May 03, 2024)
The SuperCom stock price gained 3.68% on the last trading day (Friday, 3rd May 2024), rising from $0.207 to $0.214. During the last trading day the stock fluctuated 6.73% from a day low at $0.208 to a day high of $0.222. The price has fallen in 7 of the last 10 days and is down by -2.55% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 711 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $585.12 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.202 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 27.10% during the next 3 months and, with a 90% probability hold a price between $0.257 and $0.535 at the end of this 3-month period.
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SPCB Signals & Forecast
SuperCom has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SuperCom 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 $0.226 and $0.225. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -46.45%. 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 for SuperCom stock
SuperCom finds support from accumulated volume at $0.210 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0140 between high and low, or 6.73%. For the last week, the stock has had daily average volatility of 6.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SPCB) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect SuperCom to open at $0.215, and during the day (based on 14 day Average True Range), to move between $0.167 and $0.262, which gives a possible trading interval of +/-$0.0477 (+/-22.23%) up or down from last closing price. If SuperCom takes out the full calculated possible swing range there will be an estimated 44.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.210 (2.05%) than the resistance at $0.225 (4.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SuperCom stock A Buy?
The SuperCom stock holds several negative signals and despite the positive trend, we believe SuperCom will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.025 Strong Sell Candidate Downgraded
Predicted Opening Price for SuperCom of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.215 ( 0.187%) | $0.214 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPCB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.229 | 6.72 % | |
| R2 | 0.223 | 4.22 % | ||
| R1 | 0.220 | 2.68 % | ||
| Current price: | 0.214 | |||
| Support | S1 | 0.209 | -2.31 % | |
| S2 | 0.206 | -3.85 % | ||
| S3 | 0.201 | -6.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.252 | 17.54 % | |
| R2 | 0.240 | 11.94 % | ||
| R1 | 0.225 | 4.85 % | ||
| Current price | 0.214 | |||
| Support | S1 | 0.210 | -2.05% | |
| S2 | 0.208 | -3.22% | ||
| S3 | 0.180 | -16.04% |
FAQ
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