PROSHARES SHORT QQQ (PSQ) Stock Technical Analysis
NYSEARCA:PSQ - NYSE Arca - US74349Y8378 - ETF - Currency: USD
We assign a technical rating of 0 out of 10 to PSQ. PSQ's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
When comparing the yearly performance of all stocks, PSQ is a bad performer in the overall market: 90% of all stocks are doing better.
PSQ is currently making a new 52 week low. This is a very bad signal. Certainly because the S&P500 Index is trading near new highs.
PSQ has an average volume of 4444070 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
In the last month PSQ has a been trading in a tight range between 32.64 and 34.10.
PSQ has a poor technical rating and the quality of the setup is also not perfect 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
32.53
44.44
We found 1 important support area.
- A support zone ranging from 32.86 to 32.92. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 5 important areas.
- A resistance zone ranging from 34.16 to 34.84. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 35.69 to 36.04. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @36.73 from a horizontal line in the daily time frame.
- Resistance @42.07 from a trend line in the weekly time frame.
- A resistance zone ranging from 43.51 to 44.00. This zone is formed by a combination of multiple trend lines 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 | DOWN | NEGATIVE | The short term trend for PSQ is down. |
| ChartMill Relative Strength | 10.5 | NEGATIVE | PSQ has a low relative strength, it was outperformed by 89.5% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of PSQ is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of PSQ is below a declining 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) | 30.91 | NEUTRAL | The RSI value for PSQ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.06 | POSITIVE | The MACD value suggests PSQ has a positive trend. |
| Stochastics (14,3) | 13.47 | OVERSOLD | The low Stochastics value suggests PSQ may be oversold. |
| Average True Range in percent/ATR (20) | 0.87 | LOW VOLATILITY | The low ATR as a percentage value for PSQ suggests low volalility. |
| Average Directional Index/ADX (14) | 28.03 | POSITIVE | The high ADX value value for PSQ suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
32.93
+0.06 (+0.18%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0.18%
1 Week-0.87%
2 Weeks-1.55%
1 Month-2.17%
3 Month-13.77%
6 Month-10.37%
12 Month-24.11%
2 Year-35.62%
3 Year-48.26%
5 Year-62.58%
10 Year-87.74%
15 Year-96.08%
Volatility
ATR(14)0.26
ATR(20)%0.87%
ATR Inc-11.47%
Range Today0.33
ADR(20)0.26
ADR(20)%0.8%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS10.5
Mansfield-2.1
10 Day High33.77
10 Day Low32.64
20 Day High34.1
20 Day Low32.64
52 Week High46.98
52 Week Low32.64
CS1 End32.92
CR1 Start34.16
Volume & EV
DER(3)-1.28%
DER(5)0.93%
Volume7.07M
Volume Incr23.24%
Vol(5)5.09M
Vol(50)4.44M