TMCnet News
Upgrade Alert for Comtech Telecommunications (CMTL)Dec 10, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Comtech Telecommunications (NASDAQ:CMTL) was upgraded from Neutral to Overweight at JP Morgan today. The stock closed yesterday at $24.13 on volume of 718,000 shares, above average daily volume of 85,000. Potential upside of 22.7% exists for Comtech Telecommunications, based on a current level of $24.13 and analysts' average consensus price target of $29.60. Comtech Telecommunications shares should first meet resistance at the 50-day moving average (MA) of $26.37 and find additional resistance at the 200-day MA of $29.14. Comtech Telecommunications share prices have moved between a 52-week high of $34.89 and a 52-week low of $22.33 and closed yesterday at 8% above that low price at $24.13 per share. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.9%. 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 October 10th, 2012 by issuing a Downtrend alert when the shares were trading at $27.02. Since that call, shares of Comtech Telecommunications have fallen 10.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |