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AI Analysis of QLGN
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Qualigen Therapeutics Inc. stock price down 0.80% on Wednesday
(Updated on Apr 17, 2024)

Sell candidate since Apr 04, 2024 Loss -22.83% PDF

The Qualigen Therapeutics Inc. stock price fell by -0.80% on the last day (Wednesday, 17th Apr 2024) from $0.300 to $0.297. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 5.97% from a day low at $0.283 to a day high of $0.300. The price has fallen in 8 of the last 10 days and is down by -29.16% for this period. 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 -137 thousand shares and in total, 48 thousand shares were bought and sold for approximately $14.24 thousand.

The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.293 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -28.66% during the next 3 months and, with a 90% probability hold a price between $0.209 and $0.335 at the end of this 3-month period.

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QLGN Signals & Forecast

There are few to no technical positive signals at the moment. The Qualigen Therapeutics Inc. 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 $0.342 and $0.388. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -29.16%. 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 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. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Qualigen Therapeutics Inc. stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0169 between high and low, or 5.97%. For the last week the stock has had daily average volatility of 11.02%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (QLGN) For The Upcoming Trading Day Of Thursday 18th

For the upcoming trading day on Thursday, 18th we expect Qualigen Therapeutics Inc. to open at $0.294, and during the day (based on 14 day Average True Range), to move between $0.260 and $0.335, which gives a possible trading interval of +/-$0.0372 (+/-12.50%) up or down from last closing price. If Qualigen Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 25.01% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $0.300, some $0.0024 (0.81%) from the current price of $0.297, our system finds the risk reward not very attractive.

Is Qualigen Therapeutics Inc. stock A Buy?

Qualigen Therapeutics Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -5.119 Strong Sell Candidate Unchanged

Predicted Opening Price for Qualigen Therapeutics Inc. of Thursday, April 18, 2024

Fair opening price April 18, 2024 Current price
$0.294 ( 1.31%) $0.297

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

Trading levels for QLGN

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 0.310 4.37 %
R2 0.304 2.20 %
R1 0.300 0.86 %
Current price: 0.297
Support S1 0.287 -3.48 %
S2 0.283 -4.82 %
S3 0.277 -6.99 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0.370 24.48 %
R2 0.366 23.07 %
R1 0.300 0.81 %
Current price 0.297
Support S1 0 .
S2 0 .
S3 0 .

FAQ

What is the symbol for Qualigen Therapeutics Inc. Stock and on which exchange is it traded?
The symbol for Qualigen Therapeutics Inc. is QLGN and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Qualigen Therapeutics Inc. Stock?
Qualigen Therapeutics Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

How to buy Qualigen Therapeutics Inc. Stock?
Qualigen Therapeutics Inc. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Qualigen Therapeutics Inc. Stock.

What's the current price of Qualigen Therapeutics Inc. Stock?
As of the end of day on the 2024-04-17, the price of an Qualigen Therapeutics Inc. (QLGN) share was $0.297.

What is the 52-week high and low for Qualigen Therapeutics Inc. Stock?
The 52-week high for Qualigen Therapeutics Inc. Stock is $1.25 and the 52-week low is $0.283.

What is the market capitalization of Qualigen Therapeutics Inc. Stock?
As of the 2024-04-17, the market capitalization of Qualigen Therapeutics Inc. is 2.017M.

When is the next earnings date for Qualigen Therapeutics Inc.?
The upcoming earnings date for Qualigen Therapeutics Inc. is May 21, 2024.
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About Qualigen Therapeutics Inc.

Qualigen Therapeutics. Qualigen Therapeutics, Inc., a biotechnology company, develops novel therapeutic products for the treatment of cancer and infectious diseases. It offers FastPack, a rapid diagnostic testing system. The company is developing QN-302 for the treatment of pancreatic ductal adenocarcinoma; QN-247, a DNA coated gold nanoparticle cancer drug candidate that targets various cancers; RAS-F, a small-molecule RAS oncogene protein-protein inhibitor that block... QLGN Profile

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