PROSHARES ULTRASHORT QQQ (QID) Technical Analysis
NYSEARCA:QID • US74349Y8295
Current stock price
QID Technical Rating and Analysis
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.
- The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
- 92% of all other stocks performed better in the past year than QID.
- QID 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.
- In the last month QID has a been trading in the 16.52 - 22.58 range, which is quite wide. It is currently trading near the lows of this range.
- QID has an average volume of 22228700 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
QID Weekly and Daily overview Charts
QID Setup Rating and Analysis
The technical rating of QID is bad and it also does not present a quality setup 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
QID Support and Resistance Analysis
16.44
We can see 2 important resistance areas.
- Resistance @21.76 from a trend line in the weekly time frame.
- Resistance @24.55 from a horizontal line in the daily time frame.
QID 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 | 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 | 8.87 | NEGATIVE | QID has a low relative strength, it was outperformed by 91.13% 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) | 26.28 | OVERSOLD | The low RSI value suggests QID may be oversold. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.13 | NEGATIVE | The MACD value suggests QID has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 3.28 | OVERSOLD | The low Stochastics value suggests QID may be oversold. |
| Average True Range in percent/ATR (20) | 3.36 | MEDIUM VOLATILITY | The ATR as a percentage value for QID suggests some volalility. |
| Average Directional Index/ADX (14) | 26.96 | POSITIVE | The high ADX value value for QID suggests a strong trend. |
QID Chart- and CandleStick Pattern Analysis
QID Technicals: Chart, Performance Metrics, Trend & Indicators
16.61
-0.33 (-1.95%)
PROSHARES ULTRASHORT QQQ / QID TA FAQ
Can you provide the ChartMill technical rating for PROSHARES ULTRASHORT QQQ?
ChartMill assigns a technical rating of 0 / 10 to QID.
Can you provide the trend direction for PROSHARES ULTRASHORT QQQ?
The current trend direction for PROSHARES ULTRASHORT QQQ (QID) is Bearish.
What is the RSI signal for QID stock?
PROSHARES ULTRASHORT QQQ (QID) has an RSI value of 26.2824. This indicates that the stock is currently oversold.
What is the short term momentum for QID stock?
The short term momentum for PROSHARES ULTRASHORT QQQ (QID) is negative.
What are the support and resistance levels for PROSHARES ULTRASHORT QQQ (QID) stock?
PROSHARES ULTRASHORT QQQ (QID) has a resistance level at 21.76. Check the full technical report for our detailed analysis of QID support and resistance levels.