Quotemedia Inc Stock Forecast
High volatility in Quotemedia Inc stock price on Tuesday which ended trading at $0.173
(Updated on Jun 25, 2024)
The Quotemedia Inc stock price fell by -7.34% on the last day (Tuesday, 25th Jun 2024) from $0.187 to $0.173. During the last trading day the stock fluctuated 11.76% from a day low at $0.170 to a day high of $0.190. The price has been going up and down for this period, and there has been a -8.95% loss for the last 2 weeks. Volume has increased on the last day by 49 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, 123 thousand shares were bought and sold for approximately $21.28 thousand.
The stock has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($0.174) are considered to be a "second chance" to get out. According to the fan-theory $0.129 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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QMCI Signals & Forecast
There are few to no technical positive signals at the moment. The Quotemedia 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 $0.185 and $0.193. 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 24, 2024, and so far it has fallen -23.75%. 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). Quotemedia Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Quotemedia 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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0200 between high and low, or 11.76%. For the last week, the stock has had daily average volatility of 3.10%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (QMCI) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Quotemedia Inc to open at $0.178, and during the day (based on 14 day Average True Range), to move between $0.166 and $0.180, which gives a possible trading interval of +/-$0.0071 (+/-4.12%) up or down from last closing price. If Quotemedia Inc takes out the full calculated possible swing range there will be an estimated 8.23% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.190, some $0.0171 (9.88%) from the current price of $0.173, our system finds the risk reward not very attractive.
Is Quotemedia Inc stock A Buy?
Quotemedia 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. 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: -3.899 Sell Candidate Downgraded
Predicted Opening Price for Quotemedia Inc of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.178 ( 2.70%) | $0.173 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QMCI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.198 | 14.26% |
| R2 | 0.190 | 9.84% |
| R1 | 0.185 | 7.11% |
| Price | 0.173 | |
| S1 | 0.170 | -1.72% |
| S2 | 0.165 | -4.45% |
| S3 | 0.158 | -8.86% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.210 | 21.45% |
| R2 | 0.210 | 21.21% |
| R1 | 0.190 | 9.88% |
| Price | 0.173 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
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