PROSHARES ULTRA TOP QQQ (QQUP) Stock Technical Analysis
USA - NASDAQ:QQUP - US74349Y6968 - ETF
Taking everything into account, QQUP scores 4 out of 10 in our technical rating. In the last year, QQUP was among the worst performers in the market. Also the short term picture is negative, the medium term is unclear at the moment.
QQUP has an average technical rating and it also does not offer a high 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.
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51.62
We found 1 important support area.
- Support @52.14 from a trend line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 56.93 to 58.57. This zone is formed by a combination of multiple trend lines and important moving averages 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 QQUP is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for QQUP is neutral. |
| ChartMill Relative Strength | 0 | NEGATIVE | QQUP has a low relative strength, it was outperformed by 100% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of QQUP is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of QQUP is above the rising SMA(50). |
| Relative Strength Index/RSI (14) | 44.45 | NEUTRAL | The RSI value for QQUP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.37 | NEGATIVE | The MACD value suggests QQUP has a negative trend. |
| Stochastics (14,3) | 66.31 | NEUTRAL | The Stochastics value for QQUP is a neutral value. |
| Average True Range in percent/ATR (20) | 2.64 | MEDIUM VOLATILITY | The ATR as a percentage value for QQUP suggests some volalility. |
| Average Directional Index/ADX (14) | 18.58 | NEGATIVE | The low ADX value for QQUP suggests a weak or negative trend. |
54.36
-4.21 (-7.18%)