SuperCom Stock Forecast
SuperCom stock price up more than 5.00% on Thursday
(Updated on May 09, 2024)
The SuperCom stock price gained 5.00% on the last trading day (Thursday, 9th May 2024), rising from $0.190 to $0.200. During the last trading day the stock fluctuated 7.06% from a day low at $0.189 to a day high of $0.202. The price has fallen in 7 of the last 10 days and is down by -20.83% for this period. Volume fell on the last day by -395 thousand shares and in total, 1 million shares were bought and sold for approximately $291.60 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $0.191 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 25.24% during the next 3 months and, with a 90% probability hold a price between $0.240 and $0.533 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SPCB Signals & Forecast
There are few to no technical positive signals at the moment. The SuperCom 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 $0.206 and $0.229. 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 -50.17%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for SuperCom stock
SuperCom finds support from accumulated volume at $0.198 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0133 between high and low, or 7.06%. For the last week the stock has had daily average volatility of 7.53%.
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 Friday 10th
For the upcoming trading day on Friday, 10th we expect SuperCom to open at $0.197, and during the day (based on 14 day Average True Range), to move between $0.160 and $0.239, which gives a possible trading interval of +/-$0.0394 (+/-19.76%) up or down from last closing price. If SuperCom takes out the full calculated possible swing range there will be an estimated 39.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.198 (1.00%) than the resistance at $0.220 (10.28%), 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.
Current score: -4.418 Sell Candidate Unchanged
Predicted Opening Price for SuperCom of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $0.197 ( 1.45%) | $0.200 |
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 | 0.210 | 5.21 % | |
| R2 | 0.205 | 2.67 % | ||
| R1 | 0.202 | 1.09 % | ||
| Current price: | 0.200 | |||
| Support | S1 | 0.192 | -4.00 % | |
| S2 | 0.188 | -5.57 % | ||
| S3 | 0.183 | -8.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.240 | 20.30 % | |
| R2 | 0.225 | 12.68 % | ||
| R1 | 0.220 | 10.28 % | ||
| Current price | 0.200 | |||
| Support | S1 | 0.198 | -1.00% | |
| S2 | 0.187 | -6.27% | ||
| S3 | 0.180 | -9.77% |
FAQ
Click here for our free guide on how to buy SuperCom Stock.
