update on TQQQI was bullish on TQQQ- I still believe that it will continue to set records this year. But if you have been playing this since the dip, you are sitting on 20% or more of profits. The RSI is 63 nearing a risky oversold area for my taste. The 9 day EMA is $170.50, which would be quite the drop. There could be a bounce off the 9ema and price to break its previous high. Maybe sell some of your shares or hold on for a break out play. Personally, I think i will average down as shown on the graph.
TQQQ trade ideas
TQQQ this month.Looking at the week ahead for TQQQ I think there is still some upside before this ascending broadening wedge turns bearish. For aggressive traders I would wait for a close above the blue trend line, but be ready for the price to bounce off of the yellow trend line. For more conservative traders wait for a close above the yellow or better yet the green trend line.
LongTQQQ is stair stepping upwards. As you can see the Bulls are in control despite the consolidation. The Price could find footing at the EMA(9)=164 or it could find footing at the EMA(20)=161 before continuing up. The overall economy is strong. People are freaking out about potential rate hikes. This could be a good time to load up.
I WILL FOLLOW...Hello traders
Target for TQQQ ==> around 167-168.
Some economists claim that an upcoming crisis will soon explode ... the trouble is that these economists say it for at least 5 years ... and the market is resolutely bullish at the end.
What to believe ?...
Not having crystal balls in my hand, I will follow the trend of the market.
Yes... as a title of a music of U2... "I WILL FOLLOW" :)
Curious thing ... the gold goes up since last Augus ... is that a sign ?
For me, i don't think so... economy work well, the US10Y is about 2.56, not a critical level... and The BofA Merrill Lynch US High Yield is under 5 %... so no doubt that investisors are positionned in Actions actually !
Nevertheless Let's stay alert !
Bye
Jeanne
TQQQ - A personal favorite ETFTQQQ is 3x leveraged, and tracks 100 of the largest non-financial companies. It has quickly become on of my personal favorite ETFs with its performance, and the January effect is fueling the fire. It is important to note that TQQQ is reset daily, so it may not be a great long-term hold, despite its apparent performance.
RSI is showing overbought - but as long as new money is flowing into the market, it is okay to be overbought. If you already have a position, hold on a little longer. Historically, RSI bearish divergence has been effective in corrections in TQQQ.
TQQQ RSI Breaking Divergence Downtrend to the UpsideEvery time the RSI line comes back through and breaks a downward trend, TQQQ 1.77% goes up. Can track back to 2016 and observe. Quick useful edge. Shorter timeframes and longer have shown consistency. When there is consolidation some brief whip saw will be found but otherwise solid strategy. Try it yourself.
TQQQ pushing back upThursdays drop was extreme, to many it suggested a pull back in the market was coming. On a longer term scale the chart shows that it may have a little more downwards to go downwards as far as back to 103, but I think that 105 is the bottom of this most recent drop in the market by looking at a shorter term chart. TQQQ will be pushing back up to past 110 to the 111-114 range based on our 1hour chart. If it continues the pattern for the year though it could still reach 120 by the end of the month.
Pushing back up to 110With the recent pull back of the markets through 8/10. I see that the ETF tqqq will surge again back to at least 110. After that the long term chart shows that the ETF could reach a resistance point where if it were to continue the trend for the year it could reach all the way up to 120, but that will be tough to reach. I say 110 - 113 by the end of the month. TQQQ is going to grind upwards from here!
Trend Breaking TQQQThe nasdaq100 is breaking the short term trend today with a Relative Strength Index reading of 69 down from 75 this means that the current short term uptrend is going to end and start on a flat to downward trajectory. I am predicting that there will be downs all the way through out the end of the week to the middle of next week. Looking at a long term chart for TQQQ we can see that the RSI is starting to trend downwards. We also see the ETF reaching the top of the resistance level on 7/19 then quickly start to move towards the short term support level of 111. With the RSI reaching a high level for the long term It is an indicator that stocks in the Nasdaq 100 are overbought and that there will be soon a sell off. I think that TQQQ will reach between 105 and 103 next week.
tqqq 7/21 forcastI expect TQQQ to push higher past 113 on Friday 7/21. If the current trend continues and earnings are good there could be a really good chance to get a great buy on TQQQ. with it currently below 112. it's about a 1.1 percent difference in the current price. now is a great chance to buy the stock. As we can see the RSI is reaching a bottom on todays chart with the stock price moving lower, which indicates that it is a great buying chance. Up past 113 on Friday. You can expect the etf to reach a little lower today and get a good price at 111.7. After that expect a good ride up to 113.
TQQQ 7/20 trend analysisTBased on the trend of TQQQ you can expect on 7/20 that the ETF will go down to 111 levels. That's when the Nasdaq 100 reaches a level of support for the short term if the trend holds. I'm calling 111 for 7/20 with a possibility of going down as far as 110.5. This may be a chance to take a risky short in the current uptrend of the Nasdaq 100 but this is where it starts to get a little flat to down for the week.
TQQQ will bounce this week 7/17 - 7/21TQQQ is set to bounce up past 112 this week, then settle around there. That's a few percent gain during the week baring any potential bad news. Its set to go higher even long term as we can see from our trend lines it just passed through a support level and now its gaining and has been gaining since hitting the bottom last week. Right now I'm a buyer up until August when the current trend shows that the Nasdaq will experience a little bit of a pull back. Baring any bad financial news it would be a good idea to buy right now while the ETF is still at 109 levels.