PROSHARES ULTRAPRO SHORT QQQ (SQQQ) Technical Analysis
NASDAQ:SQQQ • US74350P6759
Current stock price
SQQQ Technical Rating and Analysis
Taking everything into account, SQQQ scores 0 out of 10 in our technical rating. SQQQ's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
- When comparing the yearly performance of all stocks, SQQQ is a bad performer in the overall market: 94% of all stocks are doing better.
- SQQQ is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
- In the last month SQQQ has a been trading in the 52.37 - 86.66 range, which is quite wide. It is currently trading near the lows of this range.
- SQQQ has an average volume of 59037900 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
SQQQ Weekly and Daily overview Charts
SQQQ Setup Rating and Analysis
The technical rating of SQQQ is bad and it also does not present a 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.
More info and screens
SQQQ Support and Resistance Analysis
53.51
We can see 3 important resistance areas.
- Resistance @71.30 from a trend line in the weekly time frame.
- Resistance @88.43 from a trend line in the daily time frame.
- Resistance @92.00 from a horizontal line in the daily time frame.
SQQQ Technical Indicator Signal Analysis
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 | DOWN | NEGATIVE | The long term trend for SQQQ is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for SQQQ is down. |
| ChartMill Relative Strength | 6.69 | NEGATIVE | SQQQ has a low relative strength, it was outperformed by 93.31% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of SQQQ is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of SQQQ is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of SQQQ is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 30.95 | NEUTRAL | The RSI value for SQQQ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -1.08 | NEGATIVE | The MACD value suggests SQQQ has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 3.43 | OVERSOLD | The low Stochastics value suggests SQQQ may be oversold. |
| Average True Range in percent/ATR (20) | 6.34 | HIGH VOLATILITY | The high ATR as a percentage value for SQQQ suggests high volalility. |
| Average Directional Index/ADX (14) | 25.28 | POSITIVE | The high ADX value value for SQQQ suggests a strong trend. |
SQQQ Chart- and CandleStick Pattern Analysis
SQQQ Technicals: Chart, Performance Metrics, Trend & Indicators
54.05
+1.6 (+3.05%)
PROSHARES ULTRAPRO SHORT QQQ / SQQQ TA FAQ
What is the ChartMill technical rating of PROSHARES ULTRAPRO SHORT QQQ (SQQQ) stock?
ChartMill assigns a technical rating of 0 / 10 to SQQQ.
Can you provide the trend direction for PROSHARES ULTRAPRO SHORT QQQ?
The current trend direction for PROSHARES ULTRAPRO SHORT QQQ (SQQQ) is Bearish.
Can you provide the RSI signal for PROSHARES ULTRAPRO SHORT QQQ?
PROSHARES ULTRAPRO SHORT QQQ (SQQQ) has an RSI value of 30.9476. This indicates that the stock is currently neutral.
Can you provide the MACD signal for PROSHARES ULTRAPRO SHORT QQQ?
The MACD indicator for PROSHARES ULTRAPRO SHORT QQQ (SQQQ) has a value of -1.07677, indicating a bearish trend.
What is the short term momentum for PROSHARES ULTRAPRO SHORT QQQ (SQQQ) stock?
The short term momentum for PROSHARES ULTRAPRO SHORT QQQ (SQQQ) is negative.