Qudian Inc. Stock Forecast
Evaluation of Qudian Inc. stock downgraded after the last trading session.
(Updated on May 07, 2024)
The Qudian Inc. stock price fell by -2.79% on the last day (Tuesday, 7th May 2024) from $2.51 to $2.44. During the last trading day the stock fluctuated 5.42% from a day low at $2.40 to a day high of $2.53. The price has risen in 6 of the last 10 days but is still down by -1.21% for this period. 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 -224 thousand shares and in total, 959 thousand shares were bought and sold for approximately $2.34 million.
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 Qudian Inc. stock with a 90% probability to be traded between $2.30 and $2.62 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
QD Signals & Forecast
The Qudian Inc. 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 $2.45. On a fall, the stock will find some support from the long-term average at approximately $2.43. 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. 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 Monday, May 06, 2024, and so far it has fallen -2.79%. 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 Qudian Inc. stock
Qudian Inc. finds support from accumulated volume at $2.41 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 $0.130 between high and low, or 5.42%. For the last week, the stock has had daily average volatility of 3.33%.
Our recommended stop-loss: $2.32 (-4.80%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (QD) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Qudian Inc. to open at $2.46, and during the day (based on 14 day Average True Range), to move between $2.35 and $2.53, which gives a possible trading interval of +/-$0.0934 (+/-3.83%) up or down from last closing price. If Qudian Inc. takes out the full calculated possible swing range there will be an estimated 7.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.45 (0.41%) than the support at $2.41 (1.23%), 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 Qudian Inc. stock A Buy?
Qudian Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: -0.932 Hold/Accumulate Downgraded
Predicted Opening Price for Qudian Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $2.46 ( 0.683%) | $2.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.59 | 6.01 % | |
| R2 | 2.54 | 3.98 % | ||
| R1 | 2.51 | 2.72 % | ||
| Current price: | 2.44 | |||
| Support | S1 | 2.41 | -1.35 % | |
| S2 | 2.38 | -2.61 % | ||
| S3 | 2.33 | -4.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.51 | 2.87 % | |
| R2 | 2.50 | 2.46 % | ||
| R1 | 2.45 | 0.410 % | ||
| Current price | 2.44 | |||
| Support | S1 | 2.41 | -1.23% | |
| S2 | 2.40 | -1.64% | ||
| S3 | 2.38 | -2.46% |
FAQ
Click here for our free guide on how to buy Qudian Inc. Stock.
