NUVEEN NASDAQ 100 DYN OVERWR (QQQX) Stock Technical Analysis
NASDAQ:QQQX - Nasdaq - US6706991071 - Currency: USD
We assign a technical rating of 6 out of 10 to QQQX. QQQX has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.
The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
When compared to the yearly performance of all other stocks, QQQX outperforms 58% of them, which is more or less in line with the market.
QQQX is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so QQQX is lagging the market slightly.
In the last month QQQX has a been trading in the 24.48 - 26.38 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although the technical rating is only medium, QQQX does present a nice setup opportunity. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 25.23, a Stop Loss order could be placed below this zone.
More info and screens
21.25
28.05
2 important support areas can be observed.
- A support zone ranging from 24.89 to 25.23. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @21.46 from a trend line in the weekly time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 26.21 to 26.30. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A resistance zone ranging from 27.74 to 27.77. 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 QQQX is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for QQQX is neutral. |
| ChartMill Relative Strength | 58.58 | NEUTRAL | QQQX is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of QQQX is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of QQQX is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of QQQX is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 49.92 | NEUTRAL | The RSI value for QQQX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.11 | NEGATIVE | The MACD value suggests QQQX has a negative trend. |
| Stochastics (14,3) | 23.15 | NEUTRAL | The Stochastics value for QQQX is a neutral value. |
| Average True Range in percent/ATR (20) | 1.47 | LOW VOLATILITY | The low ATR as a percentage value for QQQX suggests low volalility. |
| Average Directional Index/ADX (14) | 15.75 | NEGATIVE | The low ADX value for QQQX suggests a weak or negative 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 |
|---|---|---|---|
| 25.79 | 25.17 | 0.62 (2.39%) | 25.00% |
| An entry @25.79. This is a Buy Stop order right above the 10 day moving average. | An exit @25.17. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.62 points, which is 2.39%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.60%. |
- 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.
25.24
-0.08 (-0.32%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-0.32%
1 Week-3.99%
2 Weeks0.44%
1 Month2.06%
3 Month5.25%
6 Month-4.43%
12 Month3.36%
2 Year1.24%
3 Year15.57%
5 Year9.69%
10 Year36.8%
15 Year111.75%
Volatility
ATR(14)0.39
ATR(20)%1.47%
ATR Inc4.76%
Range Today0.5
ADR(20)0.3
ADR(20)%1.21%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS58.58
Mansfield-0.35
10 Day High26.38
10 Day Low25.18
20 Day High26.38
20 Day Low24.49
52 Week High27.95
52 Week Low20.34
CS1 End25.23
CR1 Start26.21
Volume & EV
DER(3)-9.93%
DER(5)-5.56%
Volume167.40K
Volume Incr-2.79%
Vol(5)159.24K
Vol(50)152.63K