INVESCO QQQ TRUST SERIES 1 (QQQ) Stock Technical Analysis
NASDAQ:QQQ • US46090E1038
We assign a technical rating of 3 out of 10 to QQQ. In the last year, QQQ was a medium performer in the overall market. We are getting mixed signals now in both the short and medium term picture.
- The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
- QQQ is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so QQQ is lagging the market slightly.
- In the last month QQQ has a been trading in the 593.34 - 629.98 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
- QQQ has an average volume of 57873500 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the performance of all stocks over the past year, QQQ turns out to be only a medium performer in the overall market: it outperformed 62% of all stocks.
Although the technical rating is bad, QQQ does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 606.38, a Stop Loss order could be placed below this zone.
More info and screens
410.50
We found 2 important support areas.
- A support zone ranging from 593.53 to 606.38. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @414.65 from a horizontal line in the weekly time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 609.01 to 615.82. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 627.61 to 635.78. 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 | NEUTRAL | NEUTRAL | The short term trend for QQQ is neutral. |
| ChartMill Relative Strength | 62.81 | NEUTRAL | QQQ is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of QQQ is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of QQQ is below a declining 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) | 47.12 | NEUTRAL | The RSI value for QQQ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.61 | POSITIVE | The MACD value suggests QQQ has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 73.33 | NEUTRAL | The Stochastics value for QQQ is a neutral value. |
| Average True Range in percent/ATR (20) | 1.79 | LOW VOLATILITY | The low ATR as a percentage value for QQQ suggests low volalility. |
| Average Directional Index/ADX (14) | 17 | NEGATIVE | The low ADX value for QQQ suggests a weak or negative trend. |
607.29
-1.95 (-0.32%)
INVESCO QQQ TRUST SERIES 1 / QQQ FAQ
What is the ChartMill technical rating of INVESCO QQQ TRUST SERIES 1 (QQQ) stock?
ChartMill assigns a technical rating of 3 / 10 to QQQ.
What is the current trend direction of INVESCO QQQ TRUST SERIES 1 (QQQ) stock?
The current trend direction for INVESCO QQQ TRUST SERIES 1 (QQQ) is Bullish.
Can you provide the RSI signal for INVESCO QQQ TRUST SERIES 1?
INVESCO QQQ TRUST SERIES 1 (QQQ) has an RSI value of 47.1157. This indicates that the stock is currently neutral.
Can you provide the MACD signal for INVESCO QQQ TRUST SERIES 1?
The MACD indicator for INVESCO QQQ TRUST SERIES 1 (QQQ) has a value of 0.613016, indicating a bearish trend.
What are the support and resistance levels for INVESCO QQQ TRUST SERIES 1 (QQQ) stock?
INVESCO QQQ TRUST SERIES 1 (QQQ) has a support level at 606.38 and a resistance level at 609.01. Check the full technical report for our detailed analysis of QQQ support and resistance levels.