FIRST TRUST NASDQ 100 TECH I (QTEC) Stock Technical Analysis
NASDAQ:QTEC - Nasdaq - US3373451026 - ETF - Currency: USD
We assign a technical rating of 9 out of 10 to QTEC. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, QTEC is showing a nice and steady performance.
The long and short term trends are both positive. This is looking good!
A new 52 week high is currently being made by QTEC, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.
QTEC is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
Looking at the yearly performance, QTEC did better than 80% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
Although QTEC 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.
More info and screens
153.21
219.79
4 important support areas can be observed.
- A support zone ranging from 212.89 to 215.31. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 199.75 to 203.59. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 189.14 to 191.77. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @154.76 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 216.93 to 217.61. 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 QTEC is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for QTEC is up. |
| ChartMill Relative Strength | 80.36 | POSITIVE | QTEC has a high relative strength, it outperformed 80.36% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of QTEC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of QTEC is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of QTEC is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 68.12 | NEUTRAL | The RSI value for QTEC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.47 | NEGATIVE | The MACD value suggests QTEC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 77.58 | NEUTRAL | The Stochastics value for QTEC is a neutral value. |
| Average True Range in percent/ATR (20) | 1.33 | LOW VOLATILITY | The low ATR as a percentage value for QTEC suggests low volalility. |
| Average Directional Index/ADX (14) | 24.45 | NEUTRAL | The ADX value for QTEC 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)
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 |
|---|---|---|---|
| 217.62 | 212.88 | 4.74 (2.18%) | 25.00% |
| An entry @217.62. This is a Buy Stop order right above the resistance zone. | An exit @212.88. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 4.74 points, which is 2.18%. | For a 0.54% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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.
216.92
+0.46 (+0.21%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0.21%
1 Week1.48%
2 Weeks0.26%
1 Month6.23%
3 Month34.54%
6 Month10.32%
12 Month12.68%
2 Year37.94%
3 Year68.47%
5 Year87.99%
10 Year411.85%
15 Year924.17%
Volatility
ATR(14)2.67
ATR(20)%1.33%
ATR Inc-14.26%
Range Today1.61
ADR(20)2.56
ADR(20)%1.18%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS80.36
Mansfield0.47
10 Day High217.95
10 Day Low210.97
20 Day High217.95
20 Day Low200.93
52 Week High217.95
52 Week Low143.8
CS1 End215.31
CR1 Start216.93
Volume & EV
DER(3)-2%
DER(5)-2.72%
Volume63.10K
Volume Incr24.61%
Vol(5)152.02K
Vol(50)149.23K