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.
Both the short term and long term trends are positive. This is a very positive sign.
When comparing the yearly performance of all stocks, we notice that QQQU is one of the better performing stocks in the market, outperforming 91% of all stocks.
QQQU is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so QQQU is performing more or less in line with the market.
In the last month QQQU has a been trading in the 42.61 - 50.23 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although QQQU has an excellent technical rating, it does not offer a high quality setup at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
26.36
50.67
We found 1 important support area.
- Support @26.63 from a trend line in the weekly time frame.
We found 1 important resistance 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 | 91.37 | POSITIVE | QQQU has a high relative strength, it outperformed 91.37% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of QQQU is below 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) | 51.62 | NEUTRAL | The RSI value for QQQU is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.16 | NEGATIVE | The MACD value suggests QQQU has a negative trend. |
| Stochastics (14,3) | 54.22 | NEUTRAL | The Stochastics value for QQQU is a neutral value. |
| Average True Range in percent/ATR (20) | 2.58 | MEDIUM VOLATILITY | The ATR as a percentage value for QQQU suggests some volalility. |
| Average Directional Index/ADX (14) | 22.38 | NEUTRAL | The ADX value for QQQU 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)
45.46
-3.07 (-6.33%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-6.33%
1 Week-3.48%
2 Weeks-1.77%
1 Month2.8%
3 Month36.19%
6 Month-5.33%
12 Month50.58%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.21
ATR(20)%2.58%
ATR Inc265.17%
Range Today2
ADR(20)0.94
ADR(20)%2.06%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS91.37
Mansfield0.85
10 Day High50.23
10 Day Low45.05
20 Day High50.23
20 Day Low42.61
52 Week High53.75
52 Week Low22.55
CS1 End26.63
CR1 Start50.17
Volume & EV
DER(3)-3.97%
DER(5)-4.32%
Volume168.10K
Volume Incr-0.06%
Vol(5)85.32K
Vol(50)90.13K