Qt Group Oyj Stock Forecast
Green day on Thursday for Qt Group Oyj stock after gaining 1.51%
(Updated on May 02, 2024)
The Qt Group Oyj stock price gained 1.51% on the last trading day (Thursday, 2nd May 2024), rising from 72.65€ to 73.75€. During the last trading day the stock fluctuated 3.62% from a day low at 71.85€ to a day high of 74.45€. The price has risen in 6 of the last 10 days and is up by 4.39% over the past 2 weeks. Volume fell on the last day by -12 thousand shares and in total, 28 thousand shares were bought and sold for approximately 2.06€ million. 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 wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Qt Group Oyj stock with a 90% probability to be traded between 67.87€ and 81.42€ 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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QTCOM.HE Signals & Forecast
There are mixed signals in the stock today. The Qt Group Oyj stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at 73.83€. On a fall, the stock will find some support from the short-term average at 71.89€. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 9.02%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Qt Group Oyj stock
Qt Group Oyj finds support from accumulated volume at 73.30€ 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 2.60€ between high and low, or 3.62%. For the last week, the stock has had daily average volatility of 5.76%.
Our recommended stop-loss: 71.05€ (-3.66%) (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 (QTCOM.HE) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Qt Group Oyj to open at 73.35€, and during the day (based on 14 day Average True Range), to move between 70.87€ and 76.63€, which gives a possible trading interval of +/-2.88€ (+/-3.91%) up or down from last closing price. If Qt Group Oyj takes out the full calculated possible swing range there will be an estimated 7.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 73.30€ (0.61%) than the resistance at 76.40€ (3.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Qt Group Oyj stock A Buy?
Qt Group Oyj holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.577 Hold/Accumulate Unchanged
Predicted Opening Price for Qt Group Oyj of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| 73.35€ ( 0.542%) | 73.75€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QTCOM.HE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 75.95 | 2.98 % | |
| R2 | 74.96 | 1.64 % | ||
| R1 | 74.34 | 0.80 % | ||
| Current price: | 73.75 | |||
| Support | S1 | 72.36 | -1.89 % | |
| S2 | 71.74 | -2.72 % | ||
| S3 | 70.75 | -4.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 77.98 | 5.74 % | |
| R2 | 77.88 | 5.60 % | ||
| R1 | 76.40 | 3.59 % | ||
| Current price | 73.75 | |||
| Support | S1 | 73.30 | -0.610% | |
| S2 | 72.98 | -1.04% | ||
| S3 | 67.65 | -8.27% |
FAQ
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