Quotemedia Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Quotemedia Inc stock upgraded to Buy Candidate.
(Updated on May 03, 2024)
The Quotemedia Inc stock price gained 2.62% on the last trading day (Friday, 3rd May 2024), rising from $0.210 to $0.216. During the last trading day the stock fluctuated 0% from a day low at $0.216 to a day high of $0.216. The price has been going up and down for this period, and there has been a 7.21% gain for the last 2 weeks. Volume fell on the last day by -30 thousand shares and in total, 250 shares were bought and sold for approximately $53.88 . 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 is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Quotemedia Inc stock with a 90% probability to be traded between $0.197 and $0.247 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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QMCI Signals & Forecast
The Quotemedia Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.212 and $0.214. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 7.70%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
A buy signal from a double bottom formation was found on Monday, April 22, 2024 and based on theory for this formation the price should go up by 22.45% to $0.264 within 25 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for Quotemedia Inc stock
Quotemedia Inc finds support from accumulated volume at $0.210 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 $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 4.33%.
Our recommended stop-loss: $0.208 (-3.62%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (QMCI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Quotemedia Inc to open at $0.216, and during the day (based on 14 day Average True Range), to move between $0.204 and $0.227, which gives a possible trading interval of +/-$0.0111 (+/-5.15%) up or down from last closing price. If Quotemedia Inc takes out the full calculated possible swing range there will be an estimated 10.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.210 (2.55%) than the resistance at $0.227 (5.34%), 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
Quotemedia Inc will release earnings -- on Friday, May 10, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0100. We will update the financials statements for Quotemedia Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.77% in the first trading day after earnings release.
Is Quotemedia Inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Quotemedia Inc stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.234 Buy Candidate Upgraded
Predicted Opening Price for Quotemedia Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.216 ( 0%) | $0.216 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 0.216 | . | |
| R2 | 0.216 | . | ||
| R1 | 0.216 | . | ||
| Current price: | 0.216 | |||
| Support | S1 | 0.216 | . | |
| S2 | 0.216 | . | ||
| S3 | 0.216 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.250 | 16.01 % | |
| R2 | 0.240 | 11.37 % | ||
| R1 | 0.227 | 5.34 % | ||
| Current price | 0.216 | |||
| Support | S1 | 0.210 | -2.55% | |
| S2 | 0.210 | -2.69% | ||
| S3 | 0.200 | -7.19% |
FAQ
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