iQSTEL Inc. Stock Forecast
High volatility in iQSTEL Inc. stock price on Thursday which ended trading at $0.390
(Updated on Mar 28, 2024)
The iQSTEL Inc. stock price gained 11.40% on the last trading day (Thursday, 28th Mar 2024), rising from $0.350 to $0.390. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 12.86% from a day low at $0.350 to a day high of $0.395. The price has risen in 6 of the last 10 days and is up by 49.96% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 378 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $700.59 thousand.
The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $0.381, a level that may pose a second chance to hit a runner. According to fan-theory $0.485 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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IQST Signals & Forecast
The iQSTEL Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.304 and $0.257. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, February 15, 2024, and so far it has risen 86.60%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). iQSTEL Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for iQSTEL Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.350 and $0.337. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, iQSTEL Inc. finds support just below today's level at $0.350. If this is broken, then the next support from accumulated volume will be at $0.337 and $0.306.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0450 between high and low, or 12.86%. For the last week, the stock has had daily average volatility of 14.10%.
The iQSTEL Inc. stock is extremely overbought on RSI14 (81). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the iQSTEL Inc. has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $0.377 (-3.38%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (IQST) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect iQSTEL Inc. to open at $0.378, and during the day (based on 14 day Average True Range), to move between $0.361 and $0.419, which gives a possible trading interval of +/-$0.0288 (+/-7.38%) up or down from last closing price. If iQSTEL Inc. takes out the full calculated possible swing range there will be an estimated 14.76% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.350, some $0.0399 (10.23%) from the current price of $0.390, our system finds the risk reward attractive.
Is iQSTEL Inc. stock A Buy?
iQSTEL Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for iQSTEL Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$0.378 ( 2.98%) | $0.390 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IQST
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.423 | 8.57 % | |
R2 | 0.406 | 4.16 % | ||
R1 | 0.395 | 1.43 % | ||
Current price: | 0.390 | |||
Support | S1 | 0.361 | -7.38 % | |
S2 | 0.350 | -10.11 % | ||
S3 | 0.333 | -14.52 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 0.390 | |||
Support | S1 | 0.350 | -10.23% | |
S2 | 0.337 | -13.52% | ||
S3 | 0.306 | -21.51% |
FAQ
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