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SmarTrend Watching for Potential Pullback in Shares of Comtech Telecomm After 16.77% Gain

By James Quinn

Comtech Telecomm (NASDAQ:CMTL) traded in a range yesterday that spanned from a low of $27.39 to a high of $30.37. Yesterday, the shares gained 16.8%, which took the trading range above the 3-day high of $26.42 on volume of 126,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Comtech Telecomm has traded in a range of $19.89 to $36.94 and is now at $29.66, 49% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 1.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Comtech Telecomm on October 23rd, 2018 by issuing a Downtrend alert when the shares were trading at $30.41. Since that call, shares of Comtech Telecomm have fallen 16.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders comtech telecomm

Ticker(s): CMTL