QuickLogic Corporation Stock Forecast
Volatile ride for QuickLogic Corporation stock price on Thursday moving between $12.47 and $13.82
(Updated on Apr 25, 2024)
The QuickLogic Corporation stock price gained 3.30% on the last trading day (Thursday, 25th Apr 2024), rising from $12.71 to $13.13. It 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. During the last trading day the stock fluctuated 10.79% from a day low at $12.47 to a day high of $13.82. The price has fallen in 6 of the last 10 days and is down by -5.27% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 643 thousand more shares were traded than the day before. In total, 873 thousand shares were bought and sold for approximately $11.47 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $11.64 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.75% during the next 3 months and, with a 90% probability hold a price between $12.66 and $21.57 at the end of this 3-month period.
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QUIK Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 13.78%. 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). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The QuickLogic Corporation 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 $15.03. On a fall, the stock will find some support from the short-term average at $12.28. 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.
Support, Risk & Stop-loss for QuickLogic Corporation stock
QuickLogic Corporation finds support from accumulated volume at $12.78 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.35 between high and low, or 10.79%. For the last week, the stock has had daily average volatility of 5.75%.
Our recommended stop-loss: $12.57 (-4.26%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (QUIK) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect QuickLogic Corporation to open at $13.14, and during the day (based on 14 day Average True Range), to move between $12.36 and $13.90, which gives a possible trading interval of +/-$0.771 (+/-5.87%) up or down from last closing price. If QuickLogic Corporation takes out the full calculated possible swing range there will be an estimated 11.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.31 (1.37%) than the support at $12.78 (2.70%), 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 QuickLogic Corporation stock A Buy?
QuickLogic Corporation 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.444 Hold/Accumulate Upgraded
Predicted Opening Price for QuickLogic Corporation of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$13.14 ( 0.0876%) | $13.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QUIK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.49 | 10.34 % | |
R2 | 13.97 | 6.42 % | ||
R1 | 13.66 | 4.00 % | ||
Current price: | 13.13 | |||
Support | S1 | 12.63 | -3.83 % | |
S2 | 12.31 | -6.25 % | ||
S3 | 11.80 | -10.16 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.17 | 23.15 % | |
R2 | 15.67 | 19.35 % | ||
R1 | 13.31 | 1.37 % | ||
Current price | 13.13 | |||
Support | S1 | 12.78 | -2.70% | |
S2 | 12.71 | -3.20% | ||
S3 | 12.01 | -8.53% |
FAQ
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