PROSHARES SHORT QQQ (PSQ) Stock Technical Analysis
NYSEARCA:PSQ • US74349Y8378
We assign a technical rating of 3 out of 10 to PSQ. Recently some decent action could be observed, but in the medium term time frame this is still negative. PSQ was also a bad performer in the overall market in the last year.
- 78% of all other stocks performed better in the past year than PSQ.
- PSQ is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
- In the last month PSQ has a been trading in the 29.24 - 31.42 range, which is quite wide. It is currently trading near the high of this range.
- PSQ has an average volume of 12159900 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.
Although the technical rating is bad, PSQ does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry.
More info and screens
29.10
When analyzing the support we can see 2 important areas.
- A support zone ranging from 30.25 to 30.50. 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.
When analyzing the resistance we notice 4 important areas.
- A resistance zone ranging from 30.79 to 30.97. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 31.66 to 31.96. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @42.64 from a trend line in the weekly time frame.
- Resistance @43.51 from a horizontal line in the weekly time frame.
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 | DOWN | NEGATIVE | The long term trend for PSQ is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for PSQ is up. |
| ChartMill Relative Strength | 22.76 | NEGATIVE | PSQ has a low relative strength, it was outperformed by 77.24% 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 | NEGATIVE | The current price of PSQ is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 52.94 | NEUTRAL | The RSI value for PSQ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests PSQ has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 58.86 | NEUTRAL | The Stochastics value for PSQ is a neutral value. |
| Average True Range in percent/ATR (20) | 1.73 | LOW VOLATILITY | The low ATR as a percentage value for PSQ suggests low volalility. |
| Average Directional Index/ADX (14) | 20.16 | NEUTRAL | The ADX value for PSQ suggests a possible start of a new trend. |
30.69
-0.34 (-1.1%)
PROSHARES SHORT QQQ / PSQ FAQ
What is the technical rating for PSQ stock?
ChartMill assigns a technical rating of 3 / 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 52.9429. This indicates that the stock is currently neutral.
Can you provide the buy/sell signal for PROSHARES SHORT QQQ?
The buy/sell signal for PROSHARES SHORT QQQ (PSQ) is hold as the short term and long term trends are mixed.
What are the support and resistance levels for PROSHARES SHORT QQQ (PSQ) stock?
PROSHARES SHORT QQQ (PSQ) has a support level at 30.5 and a resistance level at 30.79. Check the full technical report for our detailed analysis of PSQ support and resistance levels.