QES: Will it breakout the horizontal trendline?After bouncing twice at strong support of 0.725, volume just started to enter and QES is next trying to test the nearest resistance (R1) at 0.790.
It is expected that price will climb further to the next resistance (R 2) at 0.845 if price manage to penetrate the R1 tomorrow.
We will QES performance this week!
QES trade ideas
QES - Volume Profile AnalysisQES seems like making rebound @ 0.795
High confluence:
i. price rejected at low volume node
ii. fibonacci retracement level - 0.382
iii. previous higher high
Disclaimer:
This is intended to be used and must be used for technical analysis education purposes only. Trade at your own risk.
Trading Plan using ABCD Pattern and Fibonacci on 4/7/211. Weekly TF show major uptrend (yellow line)
2. In 30m TF found Diamond Up ABCD pattern and point B near to 38.2%
3. My Trading Plan if breakout from point B is my EP and CL at point C
4. Using Fibonacci retracement point B-C to get point D at 224% for my 1st target.
#smtm
#StopLimit MYX:QES
Hit TP - Negative divergence alertQES found resistance at 0.935, and negative divergence is seen on daily RSI. New long position need to be very cautious. Short term support is seen at 0.82.
Disclaimer: No trading strategy provided here. Our content is intended to be used and must be used for technical analysis education purposes only
QES - Price & Volume BreakoutBreakout of 73.5sen and currently at all time high. Fitting Fibonacci retracement levels on the latest mini wave gives us a reasonable target of 85.5sen.
Also observed are a rounding bottom formation and a upward parallel channel, pointing towards a 25% upside in the near term. The 73.5sen level is a resistance-turned support for MYX:QES .
Theme: Technology
QES - Rocketing on Earnings Inflection PointAs we can see, QES is currently trading on a strong uptrend despite weak market condition for the past few days. We are anticipating more upside based on this strength for now as the RSI is still not in a highly overbought situation yet. Based on Fibo extension, we are anticipating the stock to test RM0.95 and RM1 first before further rally towards RM1.20 for now. Overall despite a potential retracement in the near future, we still expect QES to perform well in a steady uptrend mode over the mid term due to positive earnings outlook.