PROSHARES ULTRAPRO SHORT QQQ (SQQQ) Stock Technical Analysis
NASDAQ:SQQQ - Nasdaq - US74347G1922 - ETF - Currency: USD
Overall SQQQ gets a technical rating of 0 out of 10. 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.
Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
98% 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. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
SQQQ is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.
SQQQ has an average volume of 99761100 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Although the technical rating is bad, SQQQ does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced.
More info and screens
18.94
38.92
We found 1 important support area.
- A support zone ranging from 19.13 to 19.13. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 19.38 to 19.52. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @21.02 from a trend line in the daily time frame.
- Resistance @38.53 from a trend 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 | 2.88 | NEGATIVE | SQQQ has a low relative strength, it was outperformed by 97.12% 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) | 33.54 | 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) | 5.92 | OVERSOLD | The low Stochastics value suggests SQQQ may be oversold. |
| Average True Range in percent/ATR (20) | 3.61 | MEDIUM VOLATILITY | The ATR as a percentage value for SQQQ suggests some volalility. |
| Average Directional Index/ADX (14) | 23.87 | NEUTRAL | The ADX value for SQQQ 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)
19.37
+0.16 (+0.83%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0.83%
1 Week1.25%
2 Weeks-3.82%
1 Month-12.19%
3 Month-46.52%
6 Month-39.15%
12 Month-48.42%
2 Year-77.09%
3 Year-90.27%
5 Year-97.39%
10 Year-99.95%
15 Year-100%
Volatility
ATR(14)0.64
ATR(20)%3.61%
ATR Inc-38.49%
Range Today0.39
ADR(20)0.59
ADR(20)%3.04%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS2.88
Mansfield-4.66
10 Day High20.35
10 Day Low18.99
20 Day High23.16
20 Day Low18.99
52 Week High57.95
52 Week Low18.99
CS1 End19.13
CR1 Start19.38
Volume & EV
DER(3)1.96%
DER(5)2.38%
Volume75.36M
Volume Incr-16.56%
Vol(5)76.71M
Vol(50)99.76M