Comtech Telecommunications Looks to Continue to Trade Below its Annual-Low Share Price Today
Comtech Telecommunications (NASDAQ:CMTL) traded at a new 52-week low today of $10.50. Approximately 89,000 shares have changed hands today, as compared to an average 30-day volume of 79,000 shares.
Over the past year, Comtech Telecommunicationshas traded in a range of $10.50 to $32.13 and are now at $10.55. The 200-day and 50-day moving averages have moved 0.51% lower and 1.35% higher over the past week, respectively.
Comtech Telecommunications has overhead space with shares priced $10.55, or 68.0% below the average consensus analyst price target of $33.00. The stock should find initial resistance at its 50-day moving average (MA) of $22.85 and further resistance at its 200-day MA of $23.03.
Comtech Telecommunications Corp. designs, develops, and manufactures technology electronic products and systems. The Company's communications products are used worldwide for voice, data, facsimile, and video transmissions at microwave frequencies in satellite, over-the-horizon microwave, terrestrial line-of-sight, and wireless telecommunications.
SmarTrend recommended that its subscribers protect gains by selling shares of Comtech Telecommunications on June 9th, 2016 by issuing a Downtrend alert when the shares were trading at $21.26. Since that call, shares of Comtech Telecommunications have fallen 48.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: 52 week high/lows comtech telecommunications