SQQQ ETF Forecast
SQQQ ETF price up 1.77% on Thursday
(Updated on Apr 18, 2024)
The SQQQ ETF price gained 1.77% on the last trading day (Thursday, 18th Apr 2024), rising from $11.86 to $12.07. During the last trading day the ETF fluctuated 3.85% from a day low at $11.69 to a day high of $12.14. The price has risen in 5 of the last 10 days and is up by 8.54% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 171 million shares were bought and sold for approximately $2.06 billion.
Given the current short-term trend, the ETF is expected to fall -10.51% during the next 3 months and, with a 90% probability hold a price between $8.83 and $10.80 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SQQQ Signals & Forecast
Mostly positive signals in the chart today. The SQQQ ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $11.29 and $10.84. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 17.41%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for SQQQ ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $11.44 and $11.12. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, SQQQ finds support just below today's level at $11.44. If this is broken, then the next support from accumulated volume will be at $11.12 and $10.96.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.450 between high and low, or 3.85%. For the last week, the ETF has had daily average volatility of 4.93%.
Our recommended stop-loss: $11.48 (-4.88%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (SQQQ) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect ProShares UltraPro Short QQQ to open at $11.97, and during the day (based on 14 day Average True Range), to move between $11.58 and $12.56, which gives a possible trading interval of +/-$0.485 (+/-4.02%) up or down from last closing price. If ProShares UltraPro Short QQQ takes out the full calculated possible swing range there will be an estimated 8.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.19 (0.99%) than the support at $11.44 (5.22%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is ProShares UltraPro Short QQQ ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term.
Current score: 3.270 Buy Candidate Unchanged
Predicted Opening Price for ProShares UltraPro Short QQQ of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $11.97 ( 0.86%) | $12.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SQQQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.42 | 2.87 % | |
| R2 | 12.24 | 1.45 % | ||
| R1 | 12.14 | 0.568 % | ||
| Current price: | 12.07 | |||
| Support | S1 | 11.79 | -2.28 % | |
| S2 | 11.69 | -3.16 % | ||
| S3 | 11.52 | -4.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.78 | 5.88 % | |
| R2 | 12.34 | 2.24 % | ||
| R1 | 12.19 | 0.99 % | ||
| Current price | 12.07 | |||
| Support | S1 | 11.44 | -5.22% | |
| S2 | 11.12 | -7.87% | ||
| S3 | 10.96 | -9.20% |
SQQQ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.164 | 1.58% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 28, 2023 | $0.283 | 2.13% |
| 3 | Sep 19, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.324 | 1.55% |
| 4 | Jun 20, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.266 | 1.35% |
| 5 | Mar 21, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.204 | 0.642% |
FAQ
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