Quartz Mountain Resources Ltd. Stock Forecast

Quartz Mountain Resources Ltd. stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 24, 2024)

QZM.V Signals & Forecast

The Quartz Mountain Resources Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.551. On a fall, the stock will find some support from the long-term average at approximately $0.469. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. 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. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Quartz Mountain Resources Ltd. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.495 and $0.465. 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, Quartz Mountain Resources Ltd. finds support just below today's level at $0.495. If this is broken, then the next support from accumulated volume will be at $0.465 and $0.450.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock 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 2.93%

Our recommended stop-loss: $0.500 (-5.64%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)

Trading Expectations (QZM.V) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect Quartz Mountain Resources Ltd. to open at $0.530, and during the day (based on 14 day Average True Range), to move between $0.499 and $0.561, which gives a possible trading interval of +/-$0.0308 (+/-5.82%) up or down from last closing price. If Quartz Mountain Resources Ltd. takes out the full calculated possible swing range there will be an estimated 11.64% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.540 (1.89%) than the support at $0.495 (6.60%), 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 Quartz Mountain Resources Ltd. stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Quartz Mountain Resources Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.451 Buy Candidate Upgraded

Predicted Opening Price for Quartz Mountain Resources Ltd. of Monday, May 27, 2024

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