$QTWC Weekly – Breakout or Breakdown? Key Levels in Play

$QTWC Weekly – Breakout or Breakdown? Key Levels in Play

The $QTWC chart is reaching a make-or-break moment. After a strong rally from mid-2022 into early 2024, the stock entered a corrective phase, consolidating below a descending trendline. Now, price is testing that trendline and a heavy supply zone at $90–92.

🔎 Technical Highlights:

Trendline test: Price is pressing against the long-term descending resistance. A weekly close above could shift momentum back to the upside.

Fibonacci roadmap: The prior impulse retraced into the 0.5–0.618 zone, holding support. If a new bullish leg develops, the 1.272–1.618 extensions ($132–145) are the next logical upside targets.

Supply/Demand zones:

Supply: $90–100 (major resistance).

Demand: $72 and $45 (strong accumulation levels).

Volume analysis: Heavy sell volume has been met with spikes of accumulation at demand zones, signaling potential institutional interest.

📈 Scenarios:

Bullish case: Break and hold above $92 with strong volume → potential momentum toward $120–145.

Bearish case: Rejection at resistance → pullback likely to $72 demand zone, with risk of deeper move to $45.

⚖️ Outlook:
This is a pivotal moment. I’m monitoring closely for a breakout confirmation before adding long exposure. Until then, it remains a range trade with clear levels: $92 = breakout trigger, $72 = support, $45 = deeper demand zone.