Qnity Electronics Rallies 3.63%: Tests $80 Resistance
$Qnity Electronics Inc(Q)$
Qnity Electronics (Q) Surged +3.63%: Tech Recovery Momentum Building, $80 Resistance Test Activated
Latest Close Data
Q closed at $79.03 on December 19th, up +3.63% ($2.77), trading within a tight range of $77.76-$80.69.
The stock sits 25% below its 52-week high of $105.40, showing potential for significant upside recovery.
Core Market Drivers
Electronics sector rotation gaining traction as tech valuations appear attractive near year-end.
Strong institutional backing with Vanguard holding 13.05% stake signals confidence.
Capital flows show mixed sentiment with $57.16M inflow vs $73.31M outflow, indicating cautious optimism among retail investors.
Technical Analysis
Volume at 2.57M shares (1.01x ratio) suggests steady accumulation.
RSI(6) recovered to 45.96 from oversold territory, indicating momentum shift.
MACD at -3.47 with narrowing divergence (-4.42 DEA) shows bearish pressure easing.
KDJ K-line at 25.74 suggests oversold bounce potential.
Key Price Levels
Primary Support: $79.00 (previous resistance turned support)
Strong Resistance: $80.69 (today's high) / $82.50 (next technical level)
Immediate Pivot: $78.50 (intraday support)
Valuation Perspective
Trading at P/E 20.87x vs Forward P/E 32.03x, showing reasonable current valuation. P/S ratio of 3.55x appears fair for electronics sector. Market cap $16.55B with solid fundamentals (EPS TTM $3.79).
Analyst Targets
7 analysts covering with average target $106.86 (35% upside potential). Distribution: 1 Strong Buy, 6 Buy ratings. Target range $92.00-$117.00 suggests strong institutional confidence in recovery trajectory.
Weekly Outlook
Expect consolidation between $77.50-$82.00 range. Break above $80.70 could trigger momentum toward $85.00. Failure to hold $78.00 may retest $76.00 support level.
Risk Disclaimer
This analysis is for informational purposes only and does not constitute investment advice. Past performance does not guarantee future results.
For SG users only, Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with unlimited trading on SG, HK, and US stocks, as well as ETFs.
🎉Cash Boost Account Now Supports 35,000+ Stocks & ETFs – Greater Flexibility Now
Find out more here.
Complete your first Cash Boost Account trade with a trade amount of ≥ SGD1000* to get SGD 688 stock vouchers*! The trade can be executed using any payment type available under the Cash Boost Account: Cash, CPF, SRS, or CDP.
Other helpful links:
💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉
How to open a CBA. How to link your CDP account. Other FAQs on CBA. Cash Boost Account Website.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
