Invesco QQQ Trust Defichain USD Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
A very red day for Invesco QQQ Trust Defichain USD stock price after a -5.40% fall in the Friday trading session
(Updated on Jun 28, 2024)
The Invesco QQQ Trust Defichain USD stock price fell by -5.40% on the last day (Friday, 28th Jun 2024) from $15.45 to $14.62. During the last trading day the stock fluctuated 6.81% from a day low at $14.50 to a day high of $15.48. The price has fallen in 8 of the last 10 days and is down by -26.26% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -17 shares and in total, 1 shares were bought and sold for approximately $14.62 .
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Due to the high volatility and the trend direction we are not able to give forecast range for this stock.
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DQQQUSD Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Invesco QQQ Trust Defichain USD stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $16.19 and $31.15. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -89.73%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Invesco QQQ Trust Defichain USD stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.99 between high and low, or 6.81%. For the last week the stock has had daily average volatility of 4.25%.
Invesco QQQ Trust Defichain USD is oversold on RSI14 (4). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DQQQUSD) For The Upcoming Trading Day Of Saturday 29th
For the upcoming trading day on Saturday, 29th we expect Invesco QQQ Trust Defichain USD to open at $14.87, and during the day (based on 14 day Average True Range), to move between $0.257 and $28.98, which gives a possible trading interval of +/-$14.36 (+/-98.24%) up or down from last closing price. If Invesco QQQ Trust Defichain USD takes out the full calculated possible swing range there will be an estimated 196.49% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $15.93, some $1.31 (8.97%) from the current price of $14.62, our system finds the risk reward not very attractive.
Is Invesco QQQ Trust Defichain USD stock A Buy?
Invesco QQQ Trust Defichain USD holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.742 Sell Candidate Upgraded
Predicted Opening Price for Invesco QQQ Trust Defichain USD of Saturday, June 29, 2024
| Fair opening price June 29, 2024 | Current price |
|---|---|
| $14.87 ( 1.69%) | $14.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DQQQUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.85 | 8.45% |
| R2 | 15.48 | 5.87% |
| R1 | 15.24 | 4.27% |
| Price | 14.62 | |
| S1 | 14.49 | -0.89% |
| S2 | 14.26 | -2.49% |
| S3 | 13.88 | -5.07% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.68 | 20.93% |
| R2 | 16.58 | 13.41% |
| R1 | 15.93 | 8.97% |
| Price | 14.62 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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