INVESCO QQQ TRUST SERIES 1 (QQQ) Stock Technical Analysis
NASDAQ:QQQ - Nasdaq - US46090E1038 - ETF - Currency: USD
Taking everything into account, QQQ scores 8 out of 10 in our technical rating. 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.
The long and short term trends are both positive. This is looking good!
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.
QQQ has an average volume of 46294000 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Looking at the yearly performance, QQQ did better than 74% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
In the last month QQQ has a been trading in a tight range between 522.66 and 552.80.
Although QQQ has an excellent technical rating, it does not present a decent entry opportunity 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.
More info and screens
410.50
557.17
When analyzing the support we can see 5 important areas.
- A support zone ranging from 535.85 to 541.22. 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 526.82. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @489.47 from a horizontal line in the daily time frame.
- Support @436.08 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 550.81 to 551.65. 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 | 74.21 | POSITIVE | QQQ has a high relative strength, it outperformed 74.21% 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) | 68.93 | NEUTRAL | The RSI value for QQQ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.51 | POSITIVE | The MACD value suggests QQQ has a positive trend. |
| Stochastics (14,3) | 89.74 | OVERBOUGHT | The high Stochastics value suggests QQQ may be overbought. |
| Average True Range in percent/ATR (20) | 1.15 | LOW VOLATILITY | The low ATR as a percentage value for QQQ suggests low volalility. |
| Average Directional Index/ADX (14) | 22.39 | 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)
550.8
+3.81 (+0.7%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0.7%
1 Week1.78%
2 Weeks4.11%
1 Month4.46%
3 Month30.31%
6 Month6.21%
12 Month11.01%
2 Year43.56%
3 Year74.6%
5 Year107.23%
10 Year392.01%
15 Year1102.36%
Volatility
ATR(14)6.38
ATR(20)%1.15%
ATR Inc-7.95%
Range Today4.88
ADR(20)5.51
ADR(20)%1%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS74.21
Mansfield0.3
10 Day High552.8
10 Day Low523.65
20 Day High552.8
20 Day Low522.66
52 Week High552.8
52 Week Low402.39
CS1 End535.3
CR1 Start548.1
Volume & EV
DER(3)0.94%
DER(5)0.97%
Volume36.48M
Volume Incr0.59%
Vol(5)47.84M
Vol(50)46.29M