SQQQ ETF 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
Stronger technical forecast for SQQQ ETF price after Wednesday trading.
(Updated on May 01, 2024)
The SQQQ ETF price gained 2.26% on the last trading day (Wednesday, 1st May 2024), rising from $11.95 to $12.22. During the last trading day the ETF fluctuated 7.05% from a day low at $11.49 to a day high of $12.30. The price has been going up and down for this period, and there has been a 3.04% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 84 million more shares were traded than the day before. In total, 208 million shares were bought and sold for approximately $2.55 billion.
The ETF is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect SQQQ ETF with a 90% probability to be traded between $10.46 and $13.01 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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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 $11.80 and $11.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 8.05%. 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 $0.81 between high and low, or 7.05%. For the last week, the ETF has had daily average volatility of 4.91%.
Our recommended stop-loss: $11.77 (-3.66%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (SQQQ) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect ProShares UltraPro Short QQQ to open at $12.00, and during the day (based on 14 day Average True Range), to move between $11.66 and $12.78, which gives a possible trading interval of +/-$0.564 (+/-4.61%) 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 9.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.47 (2.05%) than the support at $11.44 (6.38%), 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?
SQQQ holds several positive signals and is considered to be a good choice at current levels. We expect the SQQQ ETF to perform great in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Strong Buy candidate.
Current score: 5.272 Strong Buy Candidate Upgraded
Predicted Opening Price for ProShares UltraPro Short QQQ of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$12.00 ( 1.77%) | $12.22 |
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 | 12.81 | 4.86 % | |
R2 | 12.50 | 2.32 % | ||
R1 | 12.31 | 0.759 % | ||
Current price: | 12.22 | |||
Support | S1 | 11.69 | -4.31 % | |
S2 | 11.50 | -5.87 % | ||
S3 | 11.19 | -8.40 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 12.84 | 5.07 % | ||
R1 | 12.47 | 2.05 % | ||
Current price | 12.22 | |||
Support | S1 | 11.44 | -6.38% | |
S2 | 11.12 | -9.00% | ||
S3 | 10.96 | -10.31% |
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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