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Quorum Health Corp Forecast and Stock Analysis
Technical QHC stock analysis for April 23, 2019.
|Shorts||8.07% ( 2019-03-29 )|
Quorum Health Corp gained 8.33% in the last trading day, rising from $1.20 to $1.30 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has been going up and down for this period, and there has been a 28.71% gain for the last 2 weeks. Volume fell in the last day by -173 178 shares, and in total, 468 507 shares bought and sold for approximately $609 059.00. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Tuesday, 23rd Apr 2019) of the QHC stock was $1.30. This is 8.33% more than the trading day before Monday, 22nd Apr 2019.
During day the stock fluctuated 16.67% from a day low at $1.14 to a day high of $1.33.
30 day high of the QHC stock price was $1.90 and low was $0.95.
90 day high was $3.61 and low was $0.95.
52 week high for the Quorum Health Corp - $8.62 and low - $0.95.
Quorum Health Corp has broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is $1.24, a level that may pose a second chance to hit a runner. According to fan-theory $1.84 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
A buy signal was issued from a pivot bottom point on Wednesday April 17, 2019, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Quorum Health Corp holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $1.56. On a fall, the stock will find some support from the short-term average at $1.12. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Relative Strength Index (RSI)
RSI14 is 57 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $1.17 and $1.07.
There is 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, Quorum Health Corp finds support just below today's level at $1.17. If this is broken, then the next support from accumulated volume will be at $1.07 and $1.01.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.19 between high and low, or 16.67%. For the last week the stock has had a daily average volatility of 11.46%.
Our recommended stoploss: $1.23 (-5.37%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 3 days ago.)
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Quorum Health Corp holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development.
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|QHC $1.30 ($0.10 8.33%)|
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