TQQQ has recently set a new 52 week high. The pull back is due to rate hikes. Once people accept this, they will hopefully start putting money back into stocks. I see this pull back as a buying opportunity. RSI is below 50. The blue candle represents a conservative entry while the yellow are more aggressive entries. The target price is to break the 52 week high of 190. This should then carry us to 200.
As the TQQQ is an aggregate of 500 companies' price movements, wouldn't momentum be a better predictor of turning points instead of speculating support levels?