INVESCO QQQ TRUST SERIES 1 (QQQ) Stock Technical Analysis
NASDAQ:QQQ - Nasdaq - US46090E1038 - ETF - Currency: USD
Overall QQQ gets a technical rating of 9 out of 10. Both in the recent history as in the last year, QQQ has proven to be a steady performer, scoring decent points in every aspect analyzed.
The long and short term trends are both positive. This is looking good!
When comparing the yearly performance of all stocks, we notice that QQQ is one of the better performing stocks in the market, outperforming 79% of all stocks.
A new 52 week high is currently being made by QQQ, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.
QQQ has an average volume of 46164300 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
In the last month QQQ has a been trading in a tight range between 544.54 and 567.70.
Besides having an excellent technical rating, QQQ also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 566.38. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 561.39, a Stop Loss order could be placed below this zone.
More info and screens
410.50
572.04
We found 5 important support areas.
- A support zone ranging from 550.28 to 561.39. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 526.82 to 538.50. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @497.50 from a horizontal line in the daily time frame.
- Support @439.17 from a trend line in the weekly time frame.
- Support @414.65 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 566.38 to 566.38. 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 QQQ is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for QQQ is up. |
| ChartMill Relative Strength | 79.52 | POSITIVE | QQQ has a high relative strength, it outperformed 79.52% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of QQQ is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of QQQ is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of QQQ is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 71.85 | OVERBOUGHT | The high RSI value suggests QQQ may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.38 | NEGATIVE | The MACD value suggests QQQ has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 90.33 | OVERBOUGHT | The high Stochastics value suggests QQQ may be overbought. |
| Average True Range in percent/ATR (20) | 0.89 | LOW VOLATILITY | The low ATR as a percentage value for QQQ suggests low volalility. |
| Average Directional Index/ADX (14) | 25.77 | POSITIVE | The high ADX value value for QQQ 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)
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 |
|---|---|---|---|
| 566.39 | 551.55 | 14.84 (2.62%) | 25.00% |
| An entry @566.39. This is a Buy Stop order right above the resistance zone. | An exit @551.55. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 14.84 points, which is 2.62%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.66%. |
- 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.
566.37
+1.36 (+0.24%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0.24%
1 Week0.91%
2 Weeks2.2%
1 Month3.69%
3 Month19.85%
6 Month6.94%
12 Month22.33%
2 Year47.62%
3 Year79.54%
5 Year113.09%
10 Year405.91%
15 Year1136.35%
Volatility
ATR(14)4.72
ATR(20)%0.89%
ATR Inc-38.7%
Range Today3.43
ADR(20)4.65
ADR(20)%0.82%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS79.52
Mansfield0.3
10 Day High567.7
10 Day Low551.56
20 Day High567.7
20 Day Low544.54
52 Week High567.7
52 Week Low402.39
CS1 End561.39
CR1 Start566.38
Volume & EV
DER(3)-0.75%
DER(5)-1.16%
Volume30.63M
Volume Incr-11.96%
Vol(5)39.20M
Vol(50)46.16M