CommScope Holding Company Stock Forecast
CommScope Holding Company stock price down 4.05% on Thursday
(Updated on Apr 18, 2024)
The CommScope Holding Company stock price fell by -4.05% on the last day (Thursday, 18th Apr 2024) from $0.99 to $0.95. It has now fallen 8 days in a row. During the last trading day the stock fluctuated 7.74% from a day low at $0.95 to a day high of $1.02. The price has fallen in 9 of the last 10 days and is down by -20.17% for this period. Volume has increased on the last day by 279 thousand 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, 3 million shares were bought and sold for approximately $2.94 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 $0.93, a level that may pose a second chance to hit a runner. According to fan-theory $1.67 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
There are few to no technical positive signals at the moment. 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 $1.04 and $1.23. 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 -40.63%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for CommScope Holding Company 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 much during the 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 $0.0733 between high and low, or 7.74%. For the last week, the stock has had daily average volatility of 8.73%.
CommScope Holding Company is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
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 Friday 19th
For the upcoming trading day on Friday, 19th we expect CommScope Holding Company to open at $0.97, and during the day (based on 14 day Average True Range), to move between $0.84 and $1.06, which gives a possible trading interval of +/-$0.108 (+/-11.35%) up or down from last closing price. If CommScope Holding Company takes out the full calculated possible swing range there will be an estimated 22.71% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $1.02, some $0.0700 (7.37%) from the current price of $0.95, our system finds the risk reward not very attractive.
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: -7.345 Strong Sell Candidate Unchanged
Predicted Opening Price for CommScope Holding Company of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $0.97 ( 2.34%) | $0.95 |
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 | 1.05 | 10.06 % | |
| R2 | 1.02 | 7.11 % | ||
| R1 | 1.00 | 5.29 % | ||
| Current price: | 0.95 | |||
| Support | S1 | 0.94 | -0.607 % | |
| S2 | 0.93 | -2.43 % | ||
| S3 | 0.90 | -5.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.17 | 22.63 % | |
| R2 | 1.10 | 15.79 % | ||
| R1 | 1.02 | 7.37 % | ||
| Current price | 0.95 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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