QMCO Technical Analysis - QUANTUM CORP

Technical Rating and Analysis

We assign a technical rating of 8 out of 10 to QMCO. In the last year, QMCO was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.

QMCO 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.

The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.

QMCO is one of the better performing stocks in the Technology Hardware, Storage & Peripherals industry, it outperforms 93% of 33 stocks in the same industry.

In the last month QMCO has a been trading in the 7.06 - 12.83 range, which is quite wide. It is currently trading near the high of this range.

QMCO has an average volume of 1548500 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

When comparing the yearly performance of all stocks, we notice that QMCO is one of the better performing stocks in the market, outperforming 96% of all stocks. However, this overall performance is mostly based on the strong move around 10 months ago.

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

Setup Rating and Analysis

Although QMCO has an excellent technical rating, it does not offer a high quality setup 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

7.39

12.01

When analyzing the support we can see 6 important areas.

Support @11.64 from a trend line in the daily time frame.
Support @11.20 from a trend line in the daily time frame.
A support zone ranging from 10.34 to 10.48. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
A support zone ranging from 9.47 to 9.47. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @7.64 from a trend line in the weekly time frame.
Support @7.46 from a trend line in the daily time frame.

When analyzing the resistance we notice one important area.

A resistance zone ranging from 11.78 to 11.89. This zone is formed by a combination of multiple trend lines in multiple time frames.

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Support and Resistance indicators

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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	NEUTRAL	NEUTRAL	The long term trend for QMCO is neutral.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for QMCO is up.
ChartMill Relative Strength	96.81	POSITIVE	QMCO has a high relative strength, it outperformed 96.81% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of QMCO is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of QMCO is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of QMCO is below a declining SMA(200).
Relative Strength Index/RSI (14)	63.68	NEUTRAL	The RSI value for QMCO is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.14	POSITIVE	The MACD value suggests QMCO has a positive trend.
Stochastics (14,3)	59.78	NEUTRAL	The Stochastics value for QMCO is a neutral value.
Average True Range in percent/ATR (20)	10.06	HIGH VOLATILITY	The high ATR as a percentage value for QMCO suggests high volalility.
Average Directional Index/ADX (14)	29.15	POSITIVE	The high ADX value value for QMCO suggests a strong trend.