DIREXION DAILY MAGNIFICENT 7 (QQQD) Stock Technical Analysis
NYSEARCA:QQQD - NYSE Arca - US25461A6689 - ETF - Currency: USD
We assign a technical rating of 0 out of 10 to QQQD. QQQD's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
When comparing the yearly performance of all stocks, QQQD is a bad performer in the overall market: 92% of all stocks are doing better.
QQQD is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
In the last month QQQD has a been trading in the 14.66 - 15.75 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.
The technical rating of QQQD is bad and it also does not present a quality setup 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
14.75
22.61
When analyzing the support we notice one important area.
- A support zone ranging from 14.90 to 14.90. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 5 important resistance areas.
- A resistance zone ranging from 15.13 to 16.08. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @16.68 from a horizontal line in the daily time frame.
- Resistance @18.44 from a horizontal line in the daily time frame.
- Resistance @20.27 from a trend line in the weekly time frame.
- Resistance @22.39 from a horizontal line in the weekly time frame.
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 | DOWN | NEGATIVE | The long term trend for QQQD is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for QQQD is down. |
| ChartMill Relative Strength | 8.01 | NEGATIVE | QQQD has a low relative strength, it was outperformed by 91.99% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of QQQD is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of QQQD is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of QQQD is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 37.52 | NEUTRAL | The RSI value for QQQD is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.03 | POSITIVE | The MACD value suggests QQQD has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 51.05 | NEUTRAL | The Stochastics value for QQQD is a neutral value. |
| Average True Range in percent/ATR (20) | 1.32 | LOW VOLATILITY | The low ATR as a percentage value for QQQD suggests low volalility. |
| Average Directional Index/ADX (14) | 25.57 | POSITIVE | The high ADX value value for QQQD suggests a strong 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)
14.91
-0.3 (-1.97%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-1.97%
1 Week-1.58%
2 Weeks-1.78%
1 Month-4.94%
3 Month-19.06%
6 Month-11.88%
12 Month-33.12%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.22
ATR(20)%1.32%
ATR Inc25.56%
Range Today0.24
ADR(20)0.15
ADR(20)%1.01%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS8.01
Mansfield-2.41
10 Day High15.44
10 Day Low14.66
20 Day High15.75
20 Day Low14.66
52 Week High23.18
52 Week Low14.66
CS1 End14.9
CR1 Start15.13
Volume & EV
DER(3)-0.22%
DER(5)-1.61%
Volume38.79K
Volume Incr116.59%
Vol(5)46.18K
Vol(50)40.82K