QLGN Technical Analysis - QUALIGEN THERAPEUTICS INC

Technical Rating and Analysis

Taking everything into account, QLGN scores 2 out of 10 in our technical rating. Recently some decent action could be observed, but in the medium term time frame this is still negative. QLGN was also a bad performer in the overall market in the last year.

97% of all other stocks performed better in the past year than QLGN.

QLGN is one of the lesser performing stocks in the Biotechnology industry. 80% of 540 stocks in the same industry do better.

QLGN is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

In the last month QLGN has a been trading in the 1.66 - 3.07 range, which is quite wide. It is currently trading near the high of this range.

QLGN has an average volume of 1147190 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

QUALIGEN THERAPEUTICS INC / QLGN Weekly stock chart

QUALIGEN THERAPEUTICS INC / QLGN Daily stock chart

Setup Rating and Analysis

The technical rating of QLGN is bad and it also does not present a quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

1.65

3.98

We found 1 important support area.

Support @1.67 from a horizontal line in the daily time frame.

3 important resistance areas can be observed.

A resistance zone ranging from 2.85 to 2.85. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @3.72 from a trend line in the daily time frame.
Resistance @3.94 from a horizontal line in the daily time frame.

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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	DOWN	NEGATIVE	The long term trend for QLGN is down.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for QLGN is up.
ChartMill Relative Strength	3.71	NEGATIVE	QLGN has a low relative strength, it was outperformed by 96.29% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of QLGN is above the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	MIXED	The current price of QLGN is above a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of QLGN is below a declining SMA(200).
Relative Strength Index/RSI (14)	76.29	OVERBOUGHT	The high RSI value suggests QLGN may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.15	POSITIVE	The MACD value suggests QLGN has a positive trend.
Stochastics (14,3)	70.58	NEUTRAL	The Stochastics value for QLGN is a neutral value.
Average True Range in percent/ATR (20)	6.92	HIGH VOLATILITY	The high ATR as a percentage value for QLGN suggests high volalility.
Average Directional Index/ADX (14)	25.98	POSITIVE	The high ADX value value for QLGN suggests a strong trend.