PROSHARES ULTRAPRO SHORT QQQ (SQQQ) Stock Technical Analysis
NASDAQ:SQQQ - Nasdaq - US74347G1922 - ETF - Currency: USD
We assign a technical rating of 0 out of 10 to SQQQ. SQQQ scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
87% of all other stocks performed better in the past year than SQQQ.
SQQQ is currently trading near the lower end of its 52 week range, which is not a good sign. The S&P500 Index is trading in the upper part of its 52 week range, so SQQQ is lagging the market.
In the last month SQQQ has a been trading in the 23.22 - 33.66 range, which is quite wide. It is currently trading near the lows of this range.
SQQQ has an average volume of 117250000 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
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
24.91
49.94
When analyzing the resistance we notice 4 important areas.
- A resistance zone ranging from 25.17 to 25.17. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @44.44 from a trend line in the weekly time frame.
- Resistance @48.42 from a trend line in the weekly time frame.
- Resistance @49.45 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 | 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 | 13.9 | NEGATIVE | SQQQ has a low relative strength, it was outperformed by 86.1% 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) | 37.9 | NEUTRAL | The RSI value for SQQQ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.1 | POSITIVE | The MACD value suggests SQQQ has a positive trend. |
| Stochastics (14,3) | 19.71 | OVERSOLD | The low Stochastics value suggests SQQQ may be oversold. |
| Average True Range in percent/ATR (20) | 5.78 | HIGH VOLATILITY | The high ATR as a percentage value for SQQQ suggests high volalility. |
| Average Directional Index/ADX (14) | 16.91 | NEGATIVE | The low ADX value for SQQQ 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)
25.16
+0.72 (+2.95%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg2.95%
1 Week7.61%
2 Weeks-12.64%
1 Month-20.51%
3 Month-11.53%
6 Month-24.4%
12 Month-47.58%
2 Year-78.18%
3 Year-89.36%
5 Year-97.87%
10 Year-99.95%
15 Year-100%
Volatility
ATR(14)1.3
ATR(20)%5.78%
ATR Inc-24.63%
Range Today0.89
ADR(20)1.21
ADR(20)%4.81%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS13.9
Mansfield-3.2
10 Day High26.43
10 Day Low23.22
20 Day High33.66
20 Day Low23.22
52 Week High57.95
52 Week Low23.22
CS1 EndN/A
CR1 Start25.17
Volume & EV
DER(3)-0.25%
DER(5)-1.97%
Volume166.22M
Volume Incr23.68%
Vol(5)133.59M
Vol(50)117.25M