Quipt Home Medical Corp. Stock Forecast
Red day on Friday for Quipt Home Medical Corp. stock after losing 2.04%
(Updated on May 31, 2024)
The Quipt Home Medical Corp. stock price fell by -2.04% on the last day (Friday, 31st May 2024) from $3.43 to $3.36. During the last trading day the stock fluctuated 4.98% from a day low at $3.32 to a day high of $3.48. The price has been going up and down for this period, and there has been a -1.18% loss for the last 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 -27 thousand shares and in total, 105 thousand shares were bought and sold for approximately $353.39 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -19.40% during the next 3 months and, with a 90% probability hold a price between $2.46 and $3.11 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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QIPT Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 7.35%. Further rise is indicated 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. The Quipt Home Medical Corp. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $3.64. On a fall, the stock will find some support from the short-term average at $3.28. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Quipt Home Medical Corp. stock
Quipt Home Medical Corp. finds support from accumulated volume at $3.23 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.165 between high and low, or 4.98%. For the last week the stock has had daily average volatility of 4.58%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (QIPT) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Quipt Home Medical Corp. to open at $3.39, and during the day (based on 14 day Average True Range), to move between $3.18 and $3.54, which gives a possible trading interval of +/-$0.177 (+/-5.28%) up or down from last closing price. If Quipt Home Medical Corp. takes out the full calculated possible swing range there will be an estimated 10.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.40 (1.19%) than the support at $3.23 (3.87%), 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 Quipt Home Medical Corp. stock A Buy?
Quipt Home Medical Corp. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.012 Sell Candidate Unchanged
Predicted Opening Price for Quipt Home Medical Corp. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $3.39 ( 0.744%) | $3.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QIPT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.55 | 5.65 % | |
| R2 | 3.49 | 3.78 % | ||
| R1 | 3.45 | 2.62 % | ||
| Current price: | 3.36 | |||
| Support | S1 | 3.32 | -1.13 % | |
| S2 | 3.28 | -2.29 % | ||
| S3 | 3.22 | -4.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.01 | 19.35 % | |
| R2 | 3.97 | 18.15 % | ||
| R1 | 3.40 | 1.19 % | ||
| Current price | 3.36 | |||
| Support | S1 | 3.23 | -3.87% | |
| S2 | 3.21 | -4.46% | ||
| S3 | 3.15 | -6.25% |
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