QQQ Stock Analysis & GEX Options Insights – Feb. 18
Technical Analysis (TA) for QQQ
* Current Price Action: QQQ is in a strong uptrend, making higher highs and higher lows on the 1-hour timeframe. The price is approaching key resistance levels, making this a critical decision zone.
* Support & Resistance Levels:
* Immediate Resistance: $540 – A breakout could fuel further upside momentum.
* Next Resistance: $545 – Aligns with the 2nd Call Wall from GEX data.
* Major Resistance: $550 – A strong resistance level where price may struggle.
* First Support: $535 – If QQQ pulls back, this level could act as a bounce zone.
* Major Support: $527 – A break below this would shift the momentum bearish.
* Critical Breakdown Level: $520 – Losing this level would likely lead to increased selling pressure.
* Indicators:
* MACD: Showing bullish momentum, but there are signs of a possible slowdown.
* Stochastic RSI: Overbought, indicating a potential short-term pullback.
Options Flow & GEX Analysis
* GEX (Gamma Exposure):
* Highest Positive NetGEX / Call Resistance: $540 – QQQ is currently testing this level, a breakout would be bullish.
* 68.05% Call Wall: $545 – A major resistance where price may slow down.
* 62.58% Call Wall: $540 – Currently acting as resistance.
* Put Wall Support: $520 – The strongest downside support from options positioning.
* 3rd Put Wall: $510 – If QQQ breaks below this, further downside is likely.
* IV & Sentiment:
* IV Rank (IVR): 15.6 → Low implied volatility, making options relatively cheap.
* IVx Avg: 18.2 → A moderate volatility level.
* Options Sentiment: Puts = 33.8% → Some bearish sentiment in options flow, but not overwhelming.
Trade Setups
📈 Bullish Scenario (Breakout Play):
* Entry: Above $540 with strong volume.
* Target: $545, then $550 (Gamma Squeeze Potential).
* Stop Loss: Below $535.
📉 Bearish Scenario (Breakdown Play):
* Entry: Below $535.
* Target: $527 or $520 (Put Support).
* Stop Loss: Above $540.
Final Thoughts
* QQQ remains bullish but is testing key resistance at $540.
* A breakout above $540 could lead to a strong rally toward $545-$550.
* A failure to hold $535 might trigger a pullback to $527 or lower.
* Best Trade Approach: Monitor price action at $540 for a breakout confirmation or $535 for a breakdown before entering a trade.
🚨 This analysis is for educational purposes only. Trade responsibly and manage risk! 🚨
* Current Price Action: QQQ is in a strong uptrend, making higher highs and higher lows on the 1-hour timeframe. The price is approaching key resistance levels, making this a critical decision zone.
* Support & Resistance Levels:
* Immediate Resistance: $540 – A breakout could fuel further upside momentum.
* Next Resistance: $545 – Aligns with the 2nd Call Wall from GEX data.
* Major Resistance: $550 – A strong resistance level where price may struggle.
* First Support: $535 – If QQQ pulls back, this level could act as a bounce zone.
* Major Support: $527 – A break below this would shift the momentum bearish.
* Critical Breakdown Level: $520 – Losing this level would likely lead to increased selling pressure.
* Indicators:
* MACD: Showing bullish momentum, but there are signs of a possible slowdown.
* Stochastic RSI: Overbought, indicating a potential short-term pullback.
Options Flow & GEX Analysis
* GEX (Gamma Exposure):
* Highest Positive NetGEX / Call Resistance: $540 – QQQ is currently testing this level, a breakout would be bullish.
* 68.05% Call Wall: $545 – A major resistance where price may slow down.
* 62.58% Call Wall: $540 – Currently acting as resistance.
* Put Wall Support: $520 – The strongest downside support from options positioning.
* 3rd Put Wall: $510 – If QQQ breaks below this, further downside is likely.
* IV & Sentiment:
* IV Rank (IVR): 15.6 → Low implied volatility, making options relatively cheap.
* IVx Avg: 18.2 → A moderate volatility level.
* Options Sentiment: Puts = 33.8% → Some bearish sentiment in options flow, but not overwhelming.
Trade Setups
📈 Bullish Scenario (Breakout Play):
* Entry: Above $540 with strong volume.
* Target: $545, then $550 (Gamma Squeeze Potential).
* Stop Loss: Below $535.
📉 Bearish Scenario (Breakdown Play):
* Entry: Below $535.
* Target: $527 or $520 (Put Support).
* Stop Loss: Above $540.
Final Thoughts
* QQQ remains bullish but is testing key resistance at $540.
* A breakout above $540 could lead to a strong rally toward $545-$550.
* A failure to hold $535 might trigger a pullback to $527 or lower.
* Best Trade Approach: Monitor price action at $540 for a breakout confirmation or $535 for a breakdown before entering a trade.
🚨 This analysis is for educational purposes only. Trade responsibly and manage risk! 🚨
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.