INVESCO QQQ TRUST SERIES 1 (QQQ) Stock Technical Analysis
NASDAQ:QQQ • US46090E1038
We assign a technical rating of 2 out of 10 to QQQ. QQQ has been an average performer in the overall market, it is still ok in the medium term time frame, but very the very recent evolution is negative.
- In the last month QQQ has a been trading in the 594.76 - 636.60 range, which is quite wide. It is currently trading near the lows of this range.
- 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.
- QQQ has an average volume of 55071400 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.
- When compared to the yearly performance of all other stocks, QQQ outperforms 55% of them, which is more or less in line with the market.
Although the technical rating is bad, QQQ does present a nice setup opportunity. Prices have been consolidating lately. There is a support zone below the current price at 601.91, a Stop Loss order could be placed below this zone.
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410.50
When analyzing the support we can see 2 important areas.
- A support zone ranging from 593.53 to 601.91. This zone is formed by a combination of multiple trend lines in multiple time frames.
- 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 609.65 to 635.78. This zone is formed by a combination of multiple trend lines and important moving averages 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 | DOWN | NEGATIVE | The short term trend for QQQ is down. |
| ChartMill Relative Strength | 55.27 | 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) | 40.83 | NEUTRAL | The RSI value for QQQ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -1.94 | NEGATIVE | The MACD value suggests QQQ has a negative trend. |
| Stochastics (14,3) | 25.01 | NEUTRAL | The Stochastics value for QQQ is a neutral value. |
| Average True Range in percent/ATR (20) | 1.78 | LOW VOLATILITY | The low ATR as a percentage value for QQQ suggests low volalility. |
| Average Directional Index/ADX (14) | 18.33 | NEGATIVE | The low ADX value for QQQ suggests a weak or negative trend. |
601.92
+1.28 (+0.21%)
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 2 / 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 40.8309. 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 -1.94467, 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 601.91 and a resistance level at 609.65. Check the full technical report for our detailed analysis of QQQ support and resistance levels.