Defiance Quantum ETF Forecast

Red day on Friday for Defiance Quantum ETF after losing 2.10%
(Updated on Apr 19, 2024)

QTUM Signals & Forecast

There are few to no technical positive signals at the moment. The Defiance Quantum ETF 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 $57.66 and $60.32. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -12.07%. 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). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.

Support, Risk & Stop-loss for Defiance Quantum ETF

Defiance Quantum finds support from accumulated volume at $55.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $1.18 between high and low, or 2.14%. For the last week, the ETF has had daily average volatility of 2.04%.

Defiance Quantum is oversold on RSI14 (16). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $52.09 (-5.68%) (This ETF has medium daily movements and this gives medium risk. Low RSI14 is 16 which reduces the risk some. There is a sell signal from a pivot top found 30 days ago.)

Trading Expectations (QTUM) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Defiance Quantum ETF to open at $55.51, and during the day (based on 14 day Average True Range), to move between $54.18 and $56.28, which gives a possible trading interval of +/-$1.05 (+/-1.90%) up or down from last closing price. If Defiance Quantum ETF takes out the full calculated possible swing range there will be an estimated 3.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $55.15 (0.14%) than the resistance at $55.52 (0.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Defiance Quantum ETF ETF A Buy?

Defiance Quantum holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.568 Hold/Accumulate Unchanged

Predicted Opening Price for Defiance Quantum ETF of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.