Qt Group Oyj Stock Forecast
Red day on Friday for Qt Group Oyj
(Updated on May 17, 2024)
The Qt Group Oyj stock price fell by -0.236% on the last day (Friday, 17th May 2024) from 84.70€ to 84.50€. During the last trading day the stock fluctuated 2.30% from a day low at 82.75€ to a day high of 84.65€. The price has risen in 7 of the last 10 days and is up by 14.58% over the past 2 weeks. 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 -28 thousand shares and in total, 20 thousand shares were bought and sold for approximately 1.73€ million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at 84.64€ will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.75% during the next 3 months and, with a 90% probability hold a price between 64.37€ and 81.47€ at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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QTCOM.HE Signals & Forecast
The Qt Group Oyj 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 80.51€ and 74.49€. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -0.236%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Qt Group Oyj stock
On the downside, the stock finds support just below today's level from accumulated volume at 77.88€ and 72.98€. 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, Qt Group Oyj finds support just below today's level at 77.88€. If this is broken, then the next support from accumulated volume will be at 72.98€ and 67.65€.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved 1.90€ between high and low, or 2.30%. For the last week, the stock has had daily average volatility of 3.40%.
The Qt Group Oyj stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: 81.65€ (-3.37%) (This stock has high daily movements and this gives high risk. The RSI14 is 86 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (QTCOM.HE) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Qt Group Oyj to open at 83.97€, and during the day (based on 14 day Average True Range), to move between 81.84€ and 87.16€, which gives a possible trading interval of +/-2.66€ (+/-3.15%) up or down from last closing price. If Qt Group Oyj takes out the full calculated possible swing range there will be an estimated 6.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 84.70€ (0.24%) than the support at 77.88€ (7.83%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Qt Group Oyj stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.151 Buy Candidate Unchanged
Predicted Opening Price for Qt Group Oyj of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| 83.97€ ( 0.631%) | 84.50€ |
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 | 85.87 | 1.62 % | |
| R2 | 85.14 | 0.758 % | ||
| R1 | 84.69 | 0.228 % | ||
| Current price: | 84.50 | |||
| Support | S1 | 83.24 | -1.49 % | |
| S2 | 82.79 | -2.02 % | ||
| S3 | 82.07 | -2.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 84.70 | 0.237 % | ||
| Current price | 84.50 | |||
| Support | S1 | 77.88 | -7.83% | |
| S2 | 72.98 | -13.63% | ||
| S3 | 67.65 | -19.94% |
FAQ
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