INVESCO NASDAQ 100 ETF (QQQM) Stock Technical Analysis
NASDAQ:QQQM - Nasdaq - US46138G6492 - ETF - Currency: USD
Overall QQQM gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, QQQM is only an average performer.
The long and short term trends are both positive. This is looking good!
QQQM 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.
In the last month QQQM has a been trading in the 215.55 - 229.52 range, which is quite wide. It is currently trading near the high of this range.
QQQM has an average volume of 2885020 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Looking at the yearly performance, QQQM did better than 78% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
QQQM has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 228.95. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 228.28, a Stop Loss order could be placed below this zone.
More info and screens
168.92
231.27
We found 5 important support areas.
- A support zone ranging from 227.70 to 228.28. 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 216.44 to 217.50. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @204.75 from a horizontal line in the daily time frame.
- Support @180.72 from a trend line in the weekly time frame.
- Support @170.63 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 228.95 to 228.98. 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 QQQM is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for QQQM is up. |
| ChartMill Relative Strength | 78.7 | POSITIVE | QQQM has a high relative strength, it outperformed 78.7% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of QQQM is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of QQQM is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of QQQM is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 67.65 | NEUTRAL | The RSI value for QQQM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.11 | NEGATIVE | The MACD value suggests QQQM has a negative trend. |
| Stochastics (14,3) | 92.36 | OVERBOUGHT | The high Stochastics value suggests QQQM may be overbought. |
| Average True Range in percent/ATR (20) | 1.07 | LOW VOLATILITY | The low ATR as a percentage value for QQQM suggests low volalility. |
| Average Directional Index/ADX (14) | 28.02 | POSITIVE | The high ADX value value for QQQM 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)
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 |
|---|---|---|---|
| 228.99 | 227.69 | 1.30 (0.57%) | 25.00% |
| An entry @228.99. This is a Buy Stop order right above the resistance zone. | An exit @227.69. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.30 points, which is 0.57%. | For a 0.14% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of QQQM. Please evaluate whether better entry and exit points can be found.
- 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.
228.94
+0.81 (+0.36%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0.36%
1 Week0.77%
2 Weeks1.48%
1 Month4.2%
3 Month25.2%
6 Month6.59%
12 Month17.07%
2 Year44.96%
3 Year76.39%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)2.2
ATR(20)%1.07%
ATR Inc-24.52%
Range Today2.16
ADR(20)2.08
ADR(20)%0.91%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS78.7
Mansfield0.32
10 Day High229.52
10 Day Low224.19
20 Day High229.52
20 Day Low215.55
52 Week High229.52
52 Week Low165.72
CS1 End228.28
CR1 Start228.95
Volume & EV
DER(3)-0.78%
DER(5)0.07%
Volume1.55M
Volume Incr-19.13%
Vol(5)2.33M
Vol(50)2.89M