INVESCO QQQ TRUST SERIES 1 (QQQ) Stock Technical Analysis
NASDAQ:QQQ - Nasdaq - US46090E1038 - ETF - Currency: USD
Overall QQQ gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, QQQ is only an average performer.
Both the short term and long term trends are positive. This is a very positive sign.
QQQ is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
In the last month QQQ has a been trading in the 505.58 - 536.78 range, which is quite wide. It is currently trading near the high of this range.
QQQ has an average volume of 53737600 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that QQQ is one of the better performing stocks in the market, outperforming 75% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
Besides having an excellent technical rating, QQQ also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 538.16. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 532.64, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for QQQ in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
410.50
544.93
When analyzing the support we can see 5 important areas.
- A support zone ranging from 524.20 to 532.64. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 507.45 to 509.23. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 489.47 to 491.85. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @434.02 from a trend line in the weekly time frame.
- Support @414.65 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 538.16 to 539.53. 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 | 75.51 | POSITIVE | QQQ has a high relative strength, it outperformed 75.51% 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) | 65.03 | NEUTRAL | The RSI value for QQQ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.94 | NEGATIVE | The MACD value suggests QQQ has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 80.15 | OVERBOUGHT | The high Stochastics value suggests QQQ may be overbought. |
| Average True Range in percent/ATR (20) | 1.37 | LOW VOLATILITY | The low ATR as a percentage value for QQQ suggests low volalility. |
| Average Directional Index/ADX (14) | 21.12 | NEUTRAL | The ADX value for QQQ suggests a possible start of a new 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 |
|---|---|---|---|
| 539.54 | 524.19 | 15.35 (2.85%) | 25.00% |
| An entry @539.54. This is a Buy Stop order right above the resistance zone. | An exit @524.19. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 15.35 points, which is 2.85%. | For a 0.71% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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.
534.29
+7.33 (+1.39%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg1.39%
1 Week0.68%
2 Weeks2.12%
1 Month2.45%
3 Month11.12%
6 Month3.01%
12 Month11.27%
2 Year44.63%
3 Year90.63%
5 Year115.79%
10 Year399.01%
15 Year1150.97%
Volatility
ATR(14)6.73
ATR(20)%1.37%
ATR Inc15.87%
Range Today4.92
ADR(20)6.43
ADR(20)%1.2%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS75.51
Mansfield0.29
10 Day High536.78
10 Day Low522.66
20 Day High536.78
20 Day Low505.58
52 Week High540.81
52 Week Low402.39
CS1 End532.64
CR1 Start538.16
Volume & EV
DER(3)3.23%
DER(5)2.27%
Volume37.26M
Volume Incr-12.66%
Vol(5)44.20M
Vol(50)53.74M