QTNT
QUOTIENT LTD - NASDAQ: $QTNT Works On Its BaseFor the better part of 2019, the shares of QUOTIENT LTD - NASDAQ: QTNT have found themselves range-bound trading within the $8 - $11 zone, while seemingly continuing to build and work on its long drawn base as is evidenced in the Daily chart above.
While further work is in order, QTNT remains in decent technical shape as the stock presently finds itself trading above all of its important moving averages 20/50/200 DMA's, which constitutes a healthy technical posture.
Additionally, when extending out to both the Weekly and Monthly time-frames, one can also observe that QTNT remains in fine shape as well. Therefore, we have a favorable technical picture across multiple time-frames, which bodes well.
Thus, while further work is required, both investors/traders may want to continue to monitor the action closely in the days/weeks ahead for further clues/evidence that things may be about to pick-up. In particular, should QTNT be capable of going topside of the $9.75 level, we may just witness a rapid re-test of the $11 level and perhaps a move into the $12 - $14 zone down the road.
Wave C still in playEarnings call reported a loss per share, but beat revenue estimates as you might have heard. Quotient Limited is expecting commercialization of their flagship product in the first half of the year and most of the loss reported in Q3 is due to their move of research facilities to better position themselves.
We saw a beautiful hammer candle this morning on the 1/4h. We are still in play for Wave C, and expect a decent pull back to continue the trend upward.
QTNT - Long from 6.33 to 7 area QTNT seems breaking up from its long consolidation as it breaks up its long down trend. Money-flow is increasing & volume also building up recently.
We are looking for a speculative long from 7.33 to 7 area.
You can check our detailed analysis on QTNT in the trading room/ Executive summery link here-
www.youtube.com
Time Span: 7:00"
Trade status: Pending
