DIREXION DAILY MAGNIFICENT 7 (QQQU) Stock Technical Analysis
NYSEARCA:QQQU - NYSE Arca - US25461A6507 - ETF - Currency: USD
Taking everything into account, QQQU scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, QQQU has proven to be a steady performer, scoring decent points in every aspect analyzed.
Although QQQU has an excellent technical rating, the quality of the presented setup is not ideal 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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26.30
When analyzing the support we can see 2 important areas.
- Support @42.91 from a horizontal line in the daily time frame.
- Support @26.57 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- Resistance @50.17 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 | UP | POSITIVE | The long term trend for QQQU is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for QQQU is up. |
| ChartMill Relative Strength | 91.71 | POSITIVE | QQQU has a high relative strength, it outperformed 91.71% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of QQQU is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of QQQU is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of QQQU is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 69.54 | NEUTRAL | The RSI value for QQQU is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.05 | POSITIVE | The MACD value suggests QQQU has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 91.27 | OVERBOUGHT | The high Stochastics value suggests QQQU may be overbought. |
| Average True Range in percent/ATR (20) | 2.13 | MEDIUM VOLATILITY | The ATR as a percentage value for QQQU suggests some volalility. |
| Average Directional Index/ADX (14) | 20.6 | NEUTRAL | The ADX value for QQQU suggests a possible start of a new 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 |
|---|---|---|---|
| 47.69 | 44.31 | 3.38 (7.08%) | 14.13% |
| An entry @47.69. This is a Buy Stop order right above the 10 day high. | An exit @44.31. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 3.38 points, which is 7.08%. | When investing 14.13% 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.
47.1
+0.3 (+0.64%)