QNT (Quant): Falling WedgeTrade setup : Price made a new 52-week Low, which is a sign of downtrend. However, it's trading in a Falling Wedge pattern, which typically resolves in a bullish breakout and a trend reversal. We wait for that breakout.
Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Learn to trade chart patterns in Lesson 8.
Trend : Short-term trend is Strong Down, Medium-term trend is Strong Down and Long-term trend is Strong Down.
Momentum is Bearish ( MACD Line crossed below MACD Signal Line) ABOVE days ago. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance : Nearest Support Zone is $70.00, then $63.00. Nearest Resistance Zone is $77.00, then $84.00.
