PROSHARES ULTRA QQQ (QLD) Stock Technical Analysis
NYSEARCA:QLD - NYSE Arca - US74347R2067 - ETF - Currency: USD
Taking everything into account, QLD scores 7 out of 10 in our technical rating. QLD has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.
Both the short term and long term trends are positive. This is a very positive sign.
QLD is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so QLD is performing more or less in line with the market.
QLD is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
QLD has an average volume of 4176680 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Looking at the yearly performance, QLD did better than 78% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
QLD has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry.
More info and screens
73.58
121.45
2 important support areas can be observed.
- A support zone ranging from 100.94 to 101.04. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @74.32 from a trend line in the weekly time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 109.13 to 110.16. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 118.54 to 120.25. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | UP | POSITIVE | The long term trend for QLD is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for QLD is up. |
| ChartMill Relative Strength | 78.47 | POSITIVE | QLD has a high relative strength, it outperformed 78.47% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of QLD is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of QLD is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of QLD is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 58.13 | NEUTRAL | The RSI value for QLD is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.45 | NEGATIVE | The MACD value suggests QLD has a negative trend. |
| Stochastics (14,3) | 70.8 | NEUTRAL | The Stochastics value for QLD is a neutral value. |
| Average True Range in percent/ATR (20) | 2.69 | MEDIUM VOLATILITY | The ATR as a percentage value for QLD suggests some volalility. |
| Average Directional Index/ADX (14) | 19.25 | NEGATIVE | The low ADX value for QLD 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)
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 |
|---|---|---|---|
| 110.17 | 106.05 | 4.12 (3.74%) | 25.00% |
| An entry @110.17. This is a Buy Stop order right above the resistance zone. | An exit @106.05. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 4.12 points, which is 3.74%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.93%. |
- The distance between exit and entry is rather small compared to the average daily movement of QLD. 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.
108.37
-2.2 (-1.99%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-1.99%
1 Week-2.11%
2 Weeks0.31%
1 Month2.03%
3 Month15.83%
6 Month-2.76%
12 Month8.15%
2 Year68.33%
3 Year161.7%
5 Year193.51%
10 Year1085.18%
15 Year6753.44%
Volatility
ATR(14)2.77
ATR(20)%2.69%
ATR Inc6.39%
Range Today2.22
ADR(20)2.54
ADR(20)%2.34%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS78.47
Mansfield0.31
10 Day High111.75
10 Day Low106.06
20 Day High111.75
20 Day Low99.48
52 Week High120.68
52 Week Low64.72
CS1 End101.04
CR1 Start109.13
Volume & EV
DER(3)0.77%
DER(5)-0.25%
Volume2.23M
Volume Incr17.6%
Vol(5)3.02M
Vol(50)4.18M