ProShares UltraPro Short QQQ Forecast and Stock Analysis
Technical SQQQ stock analysis for March 22, 2019.
ProShares UltraPro Short QQQ gained 6.69% in the last trading day, rising from $9.71 to $10.36 The price has fallen in 8 of the last 10 days and is down by -12.94% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 14.08 million more shares were traded than the day before. In total, 58.30 million shares bought and sold for approximately $604.00 million.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the SQQQ stock was $10.36. This is 6.69% more than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 6.37% from a day low at $9.77 to a day high of $10.39.
30 day high of the SQQQ stock price was $12.30 and low was $9.67.
90 day high was $21.37 and low was $9.67.
52 week high for the ProShares UltraPro Short QQQ - $21.37 and low - $9.67.
ProShares UltraPro Short QQQ lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -37.21% during the next 3 months and, with 90% probability hold a price between $5.14 and $7.42 at the end of this period.
A buy signal was issued from a pivot bottom point on Thursday March 21, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. ProShares UltraPro Short QQQ holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $11.44. On a fall, the stock will find some support from the short-term average at $10.34. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
RSI14 is 38 and the stock is currently not being overbought or oversold
Support & Resistance
ProShares UltraPro Short QQQ finds support from accumulated volume at $10.34.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.62 between high and low, or 6.37%. For the last week, the stock has had a daily average volatility of 4.55%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Very Low Low Medium High Very High
Evaluation: Sell Candidate
ProShares UltraPro Short QQQ holds several negative signals and we believe that 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 recommendation for this stock since last evaluation from a Strong Sell Candidate to a Sell Candidate.