INVESCO QQQ TRUST SERIES 1 - Daily - Technical analysis published on 01/25/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
61%
11%
28%
My opinion
Bullish above 216.16 USD
My targets
224.13 USD (+0.64%)
233.70 USD (+4.94%)
My analysis
INVESCO QQQ TRUST SERIES 1 is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 216.16 USD. The next resistance located at 224.13 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 233.70 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
FORCE
0
10
7.7
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This analysis was given by hsokkar. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The INVESCO QQQ TRUST SERIES 1 rating is 222.70 USD. On the day, this instrument lost -0.84% and was traded between 221.67 USD and 225.88 USD over the period. The price is currently at +0.46% from its lowest and -1.41% from its highest.221.67
225.88
222.70
A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of INVESCO QQQ TRUST SERIES 1 indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 11 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 80
Type : Neutral
Timeframe : Daily
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish engulfing lines
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 186.74 | 201.47 | 216.16 | 222.70 |
| Change (%) | -16.15% | -9.53% | -2.94% | - |
| Change | -35.96 | -21.23 | -6.54 | - |
| Level | Major | Major | Intermediate | - |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 221.31 | 222.00 | 223.30 | 223.99 | 225.29 | 225.98 | 227.28 |
| Camarilla | 224.04 | 224.23 | 224.41 | 224.59 | 224.77 | 224.96 | 225.14 |
| Woodie | 221.61 | 222.15 | 223.60 | 224.14 | 225.59 | 226.13 | 227.58 |
| Fibonacci | 222.00 | 222.76 | 223.23 | 223.99 | 224.75 | 225.22 | 225.98 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 215.81 | 217.39 | 220.39 | 221.97 | 224.97 | 226.55 | 229.55 |
| Camarilla | 222.12 | 222.54 | 222.96 | 223.38 | 223.80 | 224.22 | 224.64 |
| Woodie | 216.51 | 217.75 | 221.09 | 222.33 | 225.67 | 226.91 | 230.25 |
| Fibonacci | 217.39 | 219.14 | 220.22 | 221.97 | 223.72 | 224.80 | 226.55 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 187.71 | 193.47 | 203.04 | 208.80 | 218.37 | 224.13 | 233.70 |
| Camarilla | 208.39 | 209.80 | 211.21 | 212.61 | 214.02 | 215.42 | 216.83 |
| Woodie | 189.62 | 194.42 | 204.95 | 209.75 | 220.28 | 225.08 | 235.61 |
| Fibonacci | 193.47 | 199.33 | 202.94 | 208.80 | 214.66 | 218.27 | 224.13 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 70.43 | |
| MACD (12,26,9): | 4.0300 | |
| Directional Movement: | 26.73 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 224.10 | |
| Parabolic SAR (0,02-0,02-0,2): | 225.15 | |
| Elder Ray (13): | 2.96 | |
| Super Trend (3,10): | 218.71 | |
| Zig ZAG (10): | 222.70 | |
| VORTEX (21): | 1.1300 | |
| Stochastique (14,3,5): | 87.48 | |
| TEMA (21): | 224.85 | |
| Williams %R (14): | -23.31 | |
| Chande Momentum Oscillator (20): | 7.17 | |
| Repulse (5,40,3): | -0.9500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.2700 | |
| Courbe Coppock: | 8.02 |
| MA7: | 222.90 | |
| MA20: | 218.48 | |
| MA50: | 210.50 | |
| MA100: | 201.43 | |
| MAexp7: | 222.61 | |
| MAexp20: | 218.74 | |
| MAexp50: | 211.71 | |
| MAexp100: | 204.34 | |
| Price / MA7: | -0.09% | |
| Price / MA20: | +1.93% | |
| Price / MA50: | +5.80% | |
| Price / MA100: | +10.56% | |
| Price / MAexp7: | +0.04% | |
| Price / MAexp20: | +1.81% | |
| Price / MAexp50: | +5.19% | |
| Price / MAexp100: | +8.99% |
This member declared not having a position on this financial instrument or a related financial instrument.
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