PROSHARES ULTRASHORT QQQ (QID) Stock Technical Analysis
NYSEARCA:QID - NYSE Arca - US74349Y8295 - ETF - Currency: USD
Overall QID gets a technical rating of 0 out of 10. QID scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
When comparing the yearly performance of all stocks, QID is a bad performer in the overall market: 78% of all stocks are doing better.
QID is currently trading near the lower end of its 52 week range, which is not a good sign. The S&P500 Index is trading in the upper part of its 52 week range, so QID is lagging the market.
QID is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.
QID has an average volume of 7560380 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Although the technical rating is bad, QID does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period.
More info and screens
28.16
45.59
When analyzing the support we notice one important area.
- A support zone ranging from 28.44 to 28.47. 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 29.91 to 29.91. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @34.89 from a horizontal line in the daily time frame.
- Resistance @43.17 from a trend line in the weekly time frame.
- Resistance @45.14 from a trend 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 QID is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for QID is down. |
| ChartMill Relative Strength | 22.82 | NEGATIVE | QID has a low relative strength, it was outperformed by 77.18% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of QID is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of QID is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of QID is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 38.6 | NEUTRAL | The RSI value for QID is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests QID has a positive trend. |
| Stochastics (14,3) | 20.82 | NEUTRAL | The Stochastics value for QID is a neutral value. |
| Average True Range in percent/ATR (20) | 3.69 | MEDIUM VOLATILITY | The ATR as a percentage value for QID suggests some volalility. |
| Average Directional Index/ADX (14) | 17.73 | NEGATIVE | The low ADX value for QID suggests a weak or negative 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)
29.9
+0.57 (+1.94%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg1.94%
1 Week5.02%
2 Weeks-8.39%
1 Month-13.88%
3 Month-3.45%
6 Month-11.85%
12 Month-29.68%
2 Year-60.27%
3 Year-73.32%
5 Year-89.76%
10 Year-98.89%
15 Year-99.9%
Volatility
ATR(14)1
ATR(20)%3.69%
ATR Inc-21.95%
Range Today0.7
ADR(20)0.92
ADR(20)%3.07%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS22.82
Mansfield-1.85
10 Day High30.85
10 Day Low28.35
20 Day High36.2
20 Day Low28.35
52 Week High50.45
52 Week Low28.35
CS1 End28.47
CR1 Start29.91
Volume & EV
DER(3)-0.08%
DER(5)-0.49%
Volume7.68M
Volume Incr-6.21%
Vol(5)5.87M
Vol(50)7.56M