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Comtech Telecommunications (
CMTL) designs, develops, produces and markets products, systems and services for advanced communications solutions. This stock closed up 4.2% at $26.86 in Monday's trading session.
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From a technical perspective, CMTL ripped higher here right above both its 50-day at $25.38 and its 200-day at $25.51 with strong upside volume. This move is quickly pushing shares of CMTL within range of triggering a big breakout trade. That trade will hit if CMTL manages to take out Monday's high of $27 and then once it clears more resistance at $27.67 to its 52-week high at $27.89 with high volume.
Traders should now look for long-biased trades in CMTL as long as it's trending above its 50-day at $25.38, and then once it sustains a move or close above those breakout levels with volume that's near or above 58,572 shares. If that breakout hits soon, then CMTL will set up to enter new 52-week-high territory above $27.89, which is bullish technical price action. Some possible upside targets off that breakout are its next major overhead resistance levels at $30 to $33.