CommScope Holding Company Forecast and Stock Analysis
Technical COMM stock analysis for April 22, 2019.
CommScope Holding Company fell by -0.08% in the last day from $26.01 to $25.99 and has now fallen 4 days in a row. The price has fallen in 6 of the last 10 days , but is still up by 4.93% over the past 2 weeks. Volume has increased in the last day by 0.19 million shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 2.12 million shares bought and sold for approximately $55.22 million.
Close price at the end of the last trading day (Monday, 22nd Apr 2019) of the COMM stock was $25.99. This is 0.08% less than the trading day before Thursday, 18th Apr 2019.
During day the stock fluctuated 3.82% from a day low at $25.86 to a day high of $26.85.
30 day high of the COMM stock price was $27.00 and low was $20.63.
90 day high was $27.00 and low was $18.24.
52 week high for the CommScope Holding Company - $41.31 and low - $15.09.
CommScope Holding Company lies in the upper part of a wide and strong rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $26.89 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 19.3% during the next 3 months and, with 90% probability hold a price between $26.48 and $32.08 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Tuesday April 16, 2019, which indicates further falls 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. CommScope Holding Company holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $26.08. On a fall, the stock will find some support from the long-term average at approximately $23.17. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal.
Relative Strength Index (RSI)
The stock holds a RSI14 at 82 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $23.87 and $22.83.
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, CommScope Holding Company finds support just below today's level at $23.87. If this is broken, then the next support from accumulated volume will be at $22.83 and $21.87.
This stock may move much during a 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 $0.99 between high and low, or 3.82%. For the last week, the stock has had a daily average volatility of 2.83%.
The stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: $24.88 (-4.26%) (This stock has high daily movements and this gives high risk. The RSI14 is 82 and this increases the risk substantially. There is a sell signal from pivot top found 3 days ago.)
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Evaluation: Buy Candidate
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term.
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|COMM $25.99 ($-0.02 -0.08%)|
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