Qilian International Holding Group Ltd Stock Forecast
Big movements in Qilian International Holding Group Ltd stock price on Tuesday moving 12.90% between high and low
(Updated on Jul 02, 2024)
The Qilian International Holding Group Ltd stock price gained 14.44% on the last trading day (Tuesday, 2nd Jul 2024), rising from $3.67 to $4.20. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 12.90% from a day low at $3.72 to a day high of $4.20. The price has risen in 6 of the last 10 days and is up by 485.04% over the past 2 weeks. Volume fell on the last day by -6 thousand shares and in total, 19 thousand shares were bought and sold for approximately $80.83 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $4.08, a level that may pose a second chance to hit a runner. According to fan-theory $7.32 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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QLI Signals & Forecast
The Qilian International Holding Group Ltd 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 $3.42 and $1.36. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 38.16%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Qilian International Holding Group Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.40 and $3.32. 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, Qilian International Holding Group Ltd finds support just below today's level at $3.40. If this is broken, then the next support from accumulated volume will be at $3.32 and $3.23.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.480 between high and low, or 12.90%. For the last week the stock has had daily average volatility of 13.57%.
The Qilian International Holding Group Ltd stock is extremely overbought on RSI14 (83). 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.
Our recommended stop-loss: $4.08 (-2.84%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (QLI) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Qilian International Holding Group Limited to open at $4.04, and during the day (based on 14 day Average True Range), to move between $3.80 and $4.60, which gives a possible trading interval of +/-$0.404 (+/-9.61%) up or down from last closing price. If Qilian International Holding Group Limited takes out the full calculated possible swing range there will be an estimated 19.22% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $3.40, some $0.80 (19.05%) from the current price of $4.20, our system finds the risk reward attractive.
Is Qilian International Holding Group Limited stock A Buy?
Qilian International Holding Group Ltd holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.500 Strong Buy Candidate Upgraded
Predicted Opening Price for Qilian International Holding Group Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $4.04 ( 3.81%) | $4.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QLI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.52 | 7.62% |
| R2 | 4.34 | 3.25% |
| R1 | 4.22 | 0.556% |
| Price | 4.20 | |
| S1 | 3.86 | -8.18% |
| S2 | 3.74 | -10.87% |
| S3 | 3.56 | -15.24% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 4.20 | |
| S1 | 3.40 | -19.05% |
| S2 | 3.32 | -20.90% |
| S3 | 3.23 | -23.10% |
QLI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 26, 2023 | Feb 27, 2023 | Mar 06, 2023 | $0.0500 | 0.752% |
FAQ
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