SuperCom (SPCB) [KalaGhazii]SuperCom (SPCB) stock is rising Tuesday without any clear news.
However, shares are seeing heavy trading this morning.
This might be due to SPCB being a penny stock.
SuperCom (NASDAQ:SPCB) stock is rocketing higher on Tuesday despite a lack of news from the cyber security company.
There are no new press releases or filings with the Securities and Exchange Commission (SEC) that explain why the stock is up today. On that same note, no analysts are offering new coverage of the shares that would cause today’s rally.
However, that doesn’t mean SPCB is moving without reason. Investors will note that the company’s shares are experiencing heavy trading on Tuesday. That has some 15 million shares on the move as of this writing. For comparison, its daily average trading volume is about 408,000 shares.
One thing that traders will want to keep in mind is that SPCB is a penny stock. This comes from its low closing price of 36 cents yesterday, as well as its market capitalization of just $2.164 million.
SPCB
I Expect $SPCB to retrace past June 24 PivotRight now, looking at the charting patterns and the current pivot correlations for SPCB, I think it should retrace past the June 24th pivot and the resistance curve may be broken soon. My sentiment is positive, and I am overall bullish long thinking this might be a good entry for some of you. That being said, everything I say is on an opinion based basis. Invest at your own risk and do your own due diligence. Please don't take this as serious advice warranting actionable financial events.
SPCB is Non-Long TermSPCB is great for some short holdings over the next few month. However during the last 5 years, and up until recently it has been filled mostly with negative correlations. There are some expected positive correlations that may keep it worth holding onto until first quarter 2018. However, lots of the technology they have seem a bit outdated compared to overall market competition. Also, though it is a good company, not as much room is open for expansion of a company their size and history. It is possible for a turn around, however, lots of what they are creating is outdated compared to what is out there now. Overall, I call it investible with high risk for a short holding that can accept some decent returns. This is especially true given their recent contracts. However, I don't expect a long.