We assign a technical rating of 9 out of 10 to QQQ. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, QQQ is showing a nice and steady performance.
QQQ has an excellent technical rating, but the quality of the setup is only medium 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.
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410.50
When analyzing the support we can see 2 important areas.
- A support zone ranging from 585.66 to 611.49. 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 found 1 important resistance area.
- A resistance zone ranging from 629.08 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 | UP | POSITIVE | The short term trend for QQQ is up. |
| ChartMill Relative Strength | 80.79 | POSITIVE | QQQ has a high relative strength, it outperformed 80.79% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of QQQ is above a declining 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) | 56.47 | NEUTRAL | The RSI value for QQQ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.31 | POSITIVE | The MACD value suggests QQQ has a positive trend. |
| Stochastics (14,3) | 75.7 | NEUTRAL | The Stochastics value for QQQ is a neutral value. |
| Average True Range in percent/ATR (20) | 1.99 | LOW VOLATILITY | The low ATR as a percentage value for QQQ suggests low volalility. |
| Average Directional Index/ADX (14) | 19 | NEGATIVE | The low ADX value for QQQ suggests a weak or negative trend. |
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 |
|---|---|---|---|
| 635.79 | 580.73 | 55.06 (8.66%) | 11.55% |
| An entry @635.79. This is a Buy Stop order right above the resistance zone. | An exit @580.73. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 55.06 points, which is 8.66%. | When investing 11.55% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
619.25
+4.98 (+0.81%)
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 9 / 10 to QQQ.
Can you provide the trend direction for INVESCO QQQ TRUST SERIES 1?
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 56.4717. 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 0.307471, indicating a bearish trend.
Can you provide the support and resistance levels for INVESCO QQQ TRUST SERIES 1?
INVESCO QQQ TRUST SERIES 1 (QQQ) has a support level at 611.49 and a resistance level at 629.08. Check the full technical report for our detailed analysis of QQQ support and resistance levels.