ARQQ Technical Analysis - ARQIT QUANTUM INC

Technical Rating and Analysis

We assign a technical rating of 10 out of 10 to ARQQ. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, ARQQ is showing a nice and steady performance.

Both the short term and long term trends are positive. This is a very positive sign.

Looking at the yearly performance, ARQQ did better than 99% of all other stocks.

ARQQ is one of the better performing stocks in the Software industry, it outperforms 98% of 281 stocks in the same industry.

ARQQ is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so ARQQ is lagging the market slightly.

In the last month ARQQ has a been trading in the 26.41 - 45.29 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

ARQIT QUANTUM INC / ARQQ Weekly stock chart

ARQIT QUANTUM INC / ARQQ Daily stock chart

Setup Rating and Analysis

Although ARQQ has an excellent technical rating, the quality of the presented setup is not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

27.64

44.28

4 important support areas can be observed.

A support zone ranging from 34.40 to 35.29. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @30.73 from a trend line in the weekly time frame.
Support @29.16 from a trend line in the daily time frame.
Support @27.92 from a trend line in the daily time frame.

2 important resistance areas can be observed.

A resistance zone ranging from 42.69 to 42.70. This zone is formed by a combination of multiple trend lines in the weekly time frame.
A resistance zone ranging from 43.83 to 43.84. This zone is formed by a combination of multiple trend lines in the daily time frame.

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What is Support and Resistance

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for ARQQ is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for ARQQ is up.
ChartMill Relative Strength	99.38	POSITIVE	ARQQ has a high relative strength, it outperformed 99.38% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of ARQQ is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of ARQQ is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of ARQQ is above the rising SMA(200).
Relative Strength Index/RSI (14)	62.31	NEUTRAL	The RSI value for ARQQ is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.41	POSITIVE	The MACD value suggests ARQQ has a positive trend.
Stochastics (14,3)	59.77	NEUTRAL	The Stochastics value for ARQQ is a neutral value.
Average True Range in percent/ATR (20)	8.43	HIGH VOLATILITY	The high ATR as a percentage value for ARQQ suggests high volalility.
Average Directional Index/ADX (14)	25.67	POSITIVE	The high ADX value value for ARQQ suggests a strong trend.