PROSHARES SHORT QQQ (PSQ) Technical Analysis
NYSEARCA:PSQ • US74349Y8378
Current stock price
PSQ Technical Rating and Analysis
We assign a technical rating of 6 out of 10 to PSQ. In the last year, PSQ was a below average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
- 72% of all other stocks performed better in the past year than PSQ.
- PSQ is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so PSQ is lagging the market.
- The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
- In the last month PSQ has a been trading in the 30.25 - 32.32 range, which is quite wide. It is currently trading near the high of this range.
- PSQ has an average volume of 13091300 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
PSQ Weekly and Daily overview Charts
PSQ Setup Rating and Analysis
PSQ has an average technical rating and also the quality of the setup is only medium 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.
More info and screens
PSQ Support and Resistance Analysis
29.10
We found 3 important support areas.
- Support @31.96 from a horizontal line in the daily time frame.
- A support zone ranging from 30.53 to 31.23. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 29.39 to 29.72. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 2 important resistance areas.
- A resistance zone ranging from 32.15 to 32.15. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @43.51 from a horizontal line in the weekly time frame.
PSQ 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 PSQ is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for PSQ is up. |
| ChartMill Relative Strength | 28.79 | NEGATIVE | PSQ has a low relative strength, it was outperformed by 71.21% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of PSQ is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of PSQ is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of PSQ is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 65.71 | NEUTRAL | The RSI value for PSQ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.09 | POSITIVE | The MACD value suggests PSQ has a positive trend. |
| Stochastics (14,3) | 84.68 | OVERBOUGHT | The high Stochastics value suggests PSQ may be overbought. |
| Average True Range in percent/ATR (20) | 1.68 | LOW VOLATILITY | The low ATR as a percentage value for PSQ suggests low volalility. |
| Average Directional Index/ADX (14) | 27.34 | POSITIVE | The high ADX value value for PSQ suggests a strong trend. |
PSQ Chart- and CandleStick Pattern Analysis
PSQ Example Setup
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 32.16 | 31.95 | 0.21 (0.65%) | 25.00% |
| An entry @32.16. This is a Buy Stop order right above the resistance zone. | An exit @31.95. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.21 points, which is 0.65%. | For a 0.16% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of PSQ. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
PSQ Technicals: Chart, Performance Metrics, Trend & Indicators
32.14
+0.61 (+1.93%)
PROSHARES SHORT QQQ / PSQ TA FAQ
What is the technical rating for PSQ stock?
ChartMill assigns a technical rating of 6 / 10 to PSQ.
What is the current trend direction of PROSHARES SHORT QQQ (PSQ) stock?
The current trend direction for PROSHARES SHORT QQQ (PSQ) is Bearish.
What is the RSI signal for PSQ stock?
PROSHARES SHORT QQQ (PSQ) has an RSI value of 65.7139. This indicates that the stock is currently neutral.
Can you provide the support and resistance levels for PROSHARES SHORT QQQ?
PROSHARES SHORT QQQ (PSQ) has a support level at 31.96 and a resistance level at 32.15. Check the full technical report for our detailed analysis of PSQ support and resistance levels.