- Qtum ETF price increased by 4.02% over the past seven days.
- Defiance Quantum ETF (ARCA: QTUM ) stock’s 52-week price range is $33 – $52.
ETF Series Solutions – Defiance Quantum ETF is a global fund that tracks the BlueStar Quantum Computing and Machine Learning Index. It invests in growth and value stocks of companies involved in quantum computing and machine learning technology. It was launched on September 4, 2018, in the United States.
Last year, QTUM delivered better returns than the US capital markets and the US market, which had 13% and 16.1% returns respectively. QTUM also showed lower volatility than 75% of US stocks in the past 3 months, with a stable weekly movement of +/- 3%. This is based on the information from Simply Wall St., a website that provides financial analysis and insights
The market capitalization of QTUM stock is $176.42 Million and the dividend yield is 0.97%. Moreover, the average volume is 47.171K and the current volume is 33.008K, the current volume is below average volume.
Moreover, the stock has done well this month, increasing by 2.22% and it has surged by 25.84% in the last six months. Defiance Quantum ETF (ARCA: QTUM) stock has a positive year-to-date return of 32.42% and a positive 1-year return of 24.9%.
Technical Analysis of Qtum ETF Price in 1-D Timeframe
The price action shows that the Qtum ETF price (ARCA: QTUM) began its journey in 2023 by rallying upwards as it rebounded from the major demand zone at $38.30 and since then surged upwards, creating higher highs and lower lows and reaching the high of $45.69 within two months.
However, the QTUM ETF price also took some pullbacks and spent almost three months hovering in the range of $45 to $43 in a correction phase. Then, QTUM ETF price found a new demand zone at $43.18 and rose by almost 21% within three months, breaking the major resistance level of $45.69.
The price also rested on the trendline effectively, which provided support to the price and QTUM price bounced from it very well. QTUM price is above all major EMAs and the volume is also increasing significantly, as seen on the volume graph.
Furthermore, to continue surging ahead, the QTUM stock price needs to break the average volume moving average by attracting more buyers which would result in a strong rally.
At the time of publishing, Qtum ETF price ( ARCA: QTUM ) is trading above the 20, 50, 100 and 200-day EMAs (exponential moving average), which is supporting the price trend. Hence, the Qtum stock is expected to move upwards giving bullish views over the daily time frame chart.
The current value of RSI is 67.23 points. The 14 SMA is above the median line at 61.80 points which indicates that the price is bullish as the RSI is in bullish territory.
The MACD line at 0.9525 and signal line at 0.8040 are above the zero line and a bullish crossover was observed in the MACD oscillator which signals more bullishness for Qtum stock price.
Summary
Qtum ETF price shows that the investors and traders of the stock are bullish on the 1-D time frame. The price action shows a bullish outlook at the time of publishing. The technical parameters of the Qtum stock price also support the bullish trend. The major indicators MACD, RSI, and EMA are giving positive signals and imply that the uptrend may continue.
Technical Levels
- The nearest support levels: $48.33 and $45.69.
- The nearest resistance levels: $53.11 and $56.23.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.