CommScope Holding Company Stock Forecast
Green day on Thursday for CommScope Holding Company
(Updated on Mar 28, 2024)
The CommScope Holding Company stock price gained 3.15% on the last trading day (Thursday, 28th Mar 2024), rising from $1.27 to $1.31. During the last trading day the stock fluctuated 5.35% from a day low at $1.29 to a day high of $1.36. The price has fallen in 6 of the last 10 days and is down by -10.27% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $3.52 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 $1.26, a level that may pose a second chance to hit a runner. According to fan-theory $2.01 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). 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 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 $1.31 and $1.61. 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 -18.13%. Further fall is indicated until a new bottom pivot has been found.
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 $1.17 and $1.10. 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 $1.17. If this is broken, then the next support from accumulated volume will be at $1.10 and $1.02.
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 $0.0690 between high and low, or 5.35%. For the last week, the stock has had daily average volatility of 6.81%.
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 Monday 1st
For the upcoming trading day on Monday, 1st we expect CommScope Holding Company to open at $1.32, and during the day (based on 14 day Average True Range), to move between $1.17 and $1.45, which gives a possible trading interval of +/-$0.141 (+/-10.74%) up or down from last closing price. If CommScope Holding Company takes out the full calculated possible swing range there will be an estimated 21.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.17 (11.07%) than the resistance at $1.51 (15.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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: -5.048 Strong Sell Candidate Unchanged
Predicted Opening Price for CommScope Holding Company of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$1.32 ( 0.738%) | $1.31 |
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 | 1.39 | 6.01 % | |
R2 | 1.36 | 3.99 % | ||
R1 | 1.35 | 2.75 % | ||
Current price: | 1.31 | |||
Support | S1 | 1.29 | -1.27 % | |
S2 | 1.28 | -2.52 % | ||
S3 | 1.25 | -4.53 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.60 | 22.14 % | |
R2 | 1.55 | 18.32 % | ||
R1 | 1.51 | 15.27 % | ||
Current price | 1.31 | |||
Support | S1 | 1.17 | -11.07% | |
S2 | 1.10 | -16.03% | ||
S3 | 1.02 | -22.14% |
FAQ
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