Today we'll analyze the Stock qqqq for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 43.04$ (03/13/08) to 41.48$ (03/17/08) a 1.56$ move
2- The current bullish trend started from 41.48$ at 03/17/08 and is currently trading at 42.26$.
3- The stock current support level is at 42.08 which is the 38.20% fibonacci retracement of the last 1.56$ move.
4- The stock current resistance level is at 42.26 which is the 50.00% fibonacci retracement of the last 1.56$ move.
5- The Stock formed a 3.56$ height triangle.
6- According to ADX, the trend is currently strong bearish,which is becoming weaker.
Conclusion:
qqqq is currently trading a strong bearish wave, which is becoming weaker .
Technical indicators and chart patterns show no favorited direction,
recommend hold or waiting for entry .
Resistance Levels: 52.52, 42.26, 42.44, 43.04, 43.46, 44.00.
Support Levels: 42.08, 42.08, 41.96, 41.87, 41.85, 41.78, 41.48, 41.48.
We Moved!!
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Shadi
Thursday, March 20, 2008
PowerShares QQQ Trust, Series 1 (ETF) (QQQ) Technical Analysis
That's all for today ... thanks for reading the post,
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have a nice day,
Shadi
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