QQQ – October 16, 2024
Key Levels:
Support:
487.58 (current low)
484.00 (next potential support with volume interest)
Resistance:
494.22 (previous pivot high)
498.18 – 498.83 (major resistance zone)
Indicators & Observations:
Moving Averages:
The shorter EMA (possibly 15 EMA) is sloping downward, indicating short-term bearish pressure.
The longer EMA (likely 161 EMA) is above the price, confirming a bearish trend continuation.
MACD:
The histogram is deepening into negative territory, suggesting increasing bearish momentum.
The MACD line has crossed below the signal line, signaling a potential continuation to the downside.
Volume Profile:
Current Price Region: The bulk of the volume sits between 484 – 487, making this a key support zone. A breakdown below 484 may trigger further downside quickly due to the low-volume gap beneath.
Volume Increase: The large red candle is accompanied by higher volume, which shows strong bearish participation at the open.
Price Action:
QQQ attempted to push higher but failed to reclaim 494.22. The current momentum suggests bearish continuation if it fails to hold above 487.58.
If the selling pressure continues, a test of the 484 level is likely.
For upside potential, the price must reclaim 494.22 and stay above for bulls to regain control.
Scalping Strategy Setup:
Short Setup:
Look to short on a rejection from the 490 – 494 range, targeting 487 or lower.
Long Setup:
Consider long entries if the price reclaims 494.22 with strong volume, targeting the 498 resistance zone.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research or consult a financial professional before making any trading decisions. Trading carries significant risks, and you may lose more than your initial investment.
Support:
487.58 (current low)
484.00 (next potential support with volume interest)
Resistance:
494.22 (previous pivot high)
498.18 – 498.83 (major resistance zone)
Indicators & Observations:
Moving Averages:
The shorter EMA (possibly 15 EMA) is sloping downward, indicating short-term bearish pressure.
The longer EMA (likely 161 EMA) is above the price, confirming a bearish trend continuation.
MACD:
The histogram is deepening into negative territory, suggesting increasing bearish momentum.
The MACD line has crossed below the signal line, signaling a potential continuation to the downside.
Volume Profile:
Current Price Region: The bulk of the volume sits between 484 – 487, making this a key support zone. A breakdown below 484 may trigger further downside quickly due to the low-volume gap beneath.
Volume Increase: The large red candle is accompanied by higher volume, which shows strong bearish participation at the open.
Price Action:
QQQ attempted to push higher but failed to reclaim 494.22. The current momentum suggests bearish continuation if it fails to hold above 487.58.
If the selling pressure continues, a test of the 484 level is likely.
For upside potential, the price must reclaim 494.22 and stay above for bulls to regain control.
Scalping Strategy Setup:
Short Setup:
Look to short on a rejection from the 490 – 494 range, targeting 487 or lower.
Long Setup:
Consider long entries if the price reclaims 494.22 with strong volume, targeting the 498 resistance zone.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research or consult a financial professional before making any trading decisions. Trading carries significant risks, and you may lose more than your initial investment.
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。