Qualstar Corporation Stock Forecast

Qualstar Corporation stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Apr 18, 2024)

QBAK Signals & Forecast

The Qualstar Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $7.07. On a fall, the stock will find some support from the long-term average at approximately $6.66. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -0.106%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Qualstar Corporation stock

Qualstar Corporation finds support from accumulated volume at $6.99 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.714%

Our recommended stop-loss: $6.80 (-3.76%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (QBAK) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Qualstar Corporation to open at $7.06, and during the day (based on 14 day Average True Range), to move between $6.76 and $7.36, which gives a possible trading interval of +/-$0.301 (+/-4.27%) up or down from last closing price. If Qualstar Corporation takes out the full calculated possible swing range there will be an estimated 8.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $7.07 (0.11%) than the support at $6.99 (1.03%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Qualstar Corporation stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Qualstar Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.397 Buy Candidate Upgraded

Predicted Opening Price for Qualstar Corporation of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.