QNST trade ideas
$QNST Bull Flag SetupQuinstreet has pulled back after hitting its all time high of $24.91 set back in Feb of 2011. The pull back is unfolding in a form of a bull flag and looks orderly. Watch for signs of "firming up" around the 50 MA and the resumption of the uptrend into new all time highs.
QNST Dead Cat BounceQNST reported record revenue, earnings were a bit of a disappointment but someone's panicking and selling shares for $12, so I picked up 1k shares. Bet it gets a bounce tomorrow, they're profitable and revenues are growing still.
I see the ask is back up to $13.25, but might be worth sticking a bid at $12 and see if anyone else panics.
QNST larger trend prevails scenarioThe restructuring of one of Quinstreet's long held clients, Dream Center Education Holdings, seems to have brought the price down this far to $13.16. However, revenue in other verticals including insurance, credit cards, personal loans, banking, and home services grew at double and triple digits YOY. Earnings estimates reflect this optimism with 0.16 and 0.19 projected for 2019 Q1 and Q2 respectively. Lowest analyst price target at $19.00; it appears to be an undervalued situation. The MACD indicator shows a coming upturn is price to correct the recent bearish rally. It is noted that the price will be news sensitive. Positive news will likely motivate this correction, while bad news is likely to send the stock sideways or into another bearish rally down to $12.00 before Q1 results prompt revaluation.
Earnings link below
QNST Daily1. Break out 52 week high price 16.71
2. Previous gap, long bars, high volume.
Expecting: long position.
QNST - Textbook Breakout ?
Breaks out of its resistance, on high volume (3x the 50-day average).
Retraces back to breakout level on lower volume (less than 50-day average).
Now price needs to bounce off this level and start a new uptrend to be a complete #textbook #breakout.
Attempting to pass through accumulation and Long on $QNST$QNST taking methodical steps bullish so we will try one more time to catch the train to the next level.
