TQQQ 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
TQQQ ETF upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on May 06, 2024)
The ETF lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $60.19 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -8.24% during the next 3 months and, with a 90% probability hold a price between $44.51 and $55.23 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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TQQQ Signals & Forecast
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, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $54.90 and $57.59. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 18.35%. 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.
Support, Risk & Stop-loss for TQQQ ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $53.71 and $51.60. 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, TQQQ finds support just below today's level at $53.71. If this is broken, then the next support from accumulated volume will be at $51.60 and $49.48.
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 $1.49 between high and low, or 2.60%. For the last week, the ETF has had daily average volatility of 4.60%.
Our recommended stop-loss: $56.57 (-3.40%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (TQQQ) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect ProShares UltraPro QQQ to open at $58.09, and during the day (based on 14 day Average True Range), to move between $55.85 and $61.27, which gives a possible trading interval of +/-$2.71 (+/-4.64%) up or down from last closing price. If ProShares UltraPro QQQ takes out the full calculated possible swing range there will be an estimated 9.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $58.93 (0.63%) than the support at $53.71 (8.28%), 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 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.649 Buy Candidate Upgraded
Predicted Opening Price for ProShares UltraPro QQQ of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $58.09 ( 0.800%) | $58.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TQQQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.58 | 1.74 % | |
| R2 | 59.01 | 0.767 % | ||
| R1 | 58.66 | 0.169 % | ||
| Current price: | 58.56 | |||
| Support | S1 | 57.52 | -1.77 % | |
| S2 | 57.17 | -2.37 % | ||
| S3 | 56.61 | -3.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.70 | 5.36 % | |
| R2 | 60.06 | 2.56 % | ||
| R1 | 58.93 | 0.632 % | ||
| Current price | 58.56 | |||
| Support | S1 | 53.71 | -8.28% | |
| S2 | 51.60 | -11.89% | ||
| S3 | 49.48 | -15.51% |
TQQQ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.215 | 0.347% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 28, 2023 | $0.223 | 0.435% |
| 3 | Sep 19, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.139 | 0.401% |
| 4 | Jun 20, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.128 | 0.324% |
| 5 | Mar 21, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.150 | 0.572% |
FAQ
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