Questerre Energy Corp Stock Forecast
Weaker technical forecast for Questerre Energy Corp as stock downgraded to Sell Candidate.
(Updated on May 02, 2024)
The Questerre Energy Corp stock price fell by -2.68% on the last day (Thursday, 2nd May 2024) from kr1.79 to kr1.74. During the last trading day the stock fluctuated 4.07% from a day low at kr1.72 to a day high of kr1.79. The price has been going up and down for this period, and there has been a -1.47% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -351 thousand shares and in total, 147 thousand shares were bought and sold for approximately kr255.71 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.64% during the next 3 months and, with a 90% probability hold a price between kr1.44 and kr1.65 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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QEC.OL Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 3.45%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Questerre Energy Corp stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr1.81. On a fall, the stock will find some support from the short-term average at kr1.74. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Questerre Energy Corp stock
Questerre Energy Corp finds support from accumulated volume at kr1.73 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved kr0.0700 between high and low, or 4.07%. For the last week the stock has had daily average volatility of 4.53%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (QEC.OL) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Questerre Energy Corp to open at kr1.75, and during the day (based on 14 day Average True Range), to move between kr1.66 and kr1.82, which gives a possible trading interval of +/-kr0.0751 (+/-4.32%) up or down from last closing price. If Questerre Energy Corp takes out the full calculated possible swing range there will be an estimated 8.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr1.73 (0.69%) than the resistance at kr1.95 (12.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Questerre Energy Corp will release earnings BMO on Wednesday, May 08, 2024. We will update the financials statements for Questerre Energy Corp, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.93% in the first trading day after earnings release.
Is Questerre Energy Corp stock A Buy?
Questerre Energy Corp holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.256 Sell Candidate Downgraded
Predicted Opening Price for Questerre Energy Corp of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| kr1.75 ( 0.498%) | kr1.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QEC.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.82 | 4.52 % | |
| R2 | 1.79 | 2.98 % | ||
| R1 | 1.78 | 2.03 % | ||
| Current price: | 1.74 | |||
| Support | S1 | 1.72 | -1.04 % | |
| S2 | 1.71 | -1.99 % | ||
| S3 | 1.68 | -3.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.01 | 15.23 % | |
| R2 | 1.95 | 12.18 % | ||
| R1 | 1.95 | 12.07 % | ||
| Current price | 1.74 | |||
| Support | S1 | 1.73 | -0.690% | |
| S2 | 1.69 | -2.87% | ||
| S3 | 1.68 | -3.33% |
FAQ
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