QQQ to the Moon

QQQ is quite bullish. There are many technical indications of strength, but it would be wise to wait for a better price, rather than buying and getting caught in a retracement.

The current price of QQQ is $186.41.

We will find resistance from levels from above including the following:

187.52 from highs and lows over the past 14 periods

We will find support from levels from below including:

185.03 from volume profile over the past 14 periods
184.07 from volume profile over the past 30 periods
183.48 from volume profile
182.68 from volume profile over the past 30 periods
181.69 from volume profile over the past 30 periods
179.45 from volume profile
178.12 from highs and lows over the past 14 periods
177.74 from volume profile over the past 100 periods
177.12 from volume profile over the past 100 periods
175.72 from volume profile over the past 100 periods

As for Technical Analysis we have the following. Volatility is much lower than average, so a breakout can be expected. The RSI is 70, suggesting that we are in bull mode, but not overbought just yet. The MACD is above the signal line, but not to an extreme. This suggests we may have more room to appreciate. QQQ is substantially above the 50 period SMA, which is at 179. This indicates that QQQ is overbought. Also, QQQ is well above the 100 period SMA, which is 173 at the moment, suggesting that we are overbought. Finally, the SMA(50) is above the SMA(100), a long term bullish confirmation. The ADX indicator suggests a bull trend, at 35.

We are getting closer to the upper bound of the Kovach Reversals Indicator at 186. This should provide resistance. The central moving average of the KRI will provide support at 181.

bull score: 8 bear score: 0 ranging score: 0