TQQQ ETF price ended on $23.73 on Thursday after gaining 2.31%

StockInvest.us, 1 month ago

StockInvest.us

The TQQQ ETF price gained 2.31% on the last trading day (Thursday, 1st Dec 2022), rising from $23.19 to $23.73. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 5.04% from a day low at $23.01 to a day high of $24.17. The price has been going up and down for this period, and there has been a 7.99% gain for the last 2 weeks. Volume fell on the last day by -46 million shares and in total, 188 million shares were bought and sold for approximately $4.46 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The ETFhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $20.47, a level that may pose a second chance to hit a runner. According to fan-theory $26.01 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

TQQQ

Mostly positive signals in the chart today. The TQQQ 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 $22.24 and $20.66. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, November 03, 2022, and so far it has risen 38.34%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.

TQQQ finds support from accumulated volume at $22.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $1.16 between high and low, or 5.04%. For the last week, the ETF has had daily average volatility of 5.86%.

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.

Check full TQQQ forecast and analysis here.