QUANTUM MF GOLD FD/ETF Stock Forecast
Red day on Friday for QUANTUM MF GOLD FD/ETF
(Updated on Jun 14, 2024)
The QUANTUM MF GOLD FD/ETF stock price fell by -0.0828% on the last day (Friday, 14th Jun 2024) from ₹60.37 to ₹60.32. During the last trading day the stock fluctuated 1.47% from a day low at ₹59.70 to a day high of ₹60.58. The price has risen in 5 of the last 10 days but is still down by -1.15% for this period. Volume has increased on the last day by 116 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 124 thousand shares were bought and sold for approximately ₹7.48 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹59.48 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.45% during the next 3 months and, with a 90% probability hold a price between ₹63.91 and ₹68.55 at the end of this 3-month period.
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QGOLDHALF.NS Signals & Forecast
There are few to no technical positive signals at the moment. The QUANTUM MF GOLD FD/ETF stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹60.48 and ₹60.88. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -3.50%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Wednesday, July 12, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Wednesday, July 12, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for QUANTUM MF GOLD FD/ETF stock
QUANTUM MF GOLD FD/ETF finds support from accumulated volume at ₹60.14 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹0.88 between high and low, or 1.47%. For the last week the stock has had daily average volatility of 1.32%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (QGOLDHALF.NS) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect QUANTUM MF GOLD FD/ETF to open at ₹60.20, and during the day (based on 14 day Average True Range), to move between ₹59.44 and ₹61.20, which gives a possible trading interval of +/-₹0.88 (+/-1.47%) up or down from last closing price. If QUANTUM MF GOLD FD/ETF takes out the full calculated possible swing range there will be an estimated 2.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹60.47 (0.25%) than the support at ₹60.14 (0.30%), 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 QUANTUM MF GOLD FD/ETF stock A Buy?
The QUANTUM MF GOLD FD/ETF stock holds several negative signals and despite the positive trend, we believe QUANTUM MF GOLD FD/ETF will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.598 Sell Candidate Unchanged
Predicted Opening Price for QUANTUM MF GOLD FD/ETF of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹60.20 ( 0.199%) | ₹60.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QGOLDHALF.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 61.08 | 1.26% |
| R2 | 60.74 | 0.703% |
| R1 | 60.54 | 0.358% |
| Price | 60.32 | |
| S1 | 59.86 | -0.756% |
| S2 | 59.66 | -1.10% |
| S3 | 59.32 | -1.66% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 60.69 | 0.613% |
| R2 | 60.50 | 0.298% |
| R1 | 60.47 | 0.249% |
| Price | 60.32 | |
| S1 | 60.14 | -0.298% |
| S2 | 58.58 | -2.88% |
| S3 | 56.25 | -6.75% |
FAQ
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