Technical Signals and Analysis
TQQQ's 14-day relative strength index (RSI) value was 46. When the RSI is above 25 and below 50, it generally indicates that the stock is moderately bearish. This means that the security's price has been falling but has not yet reached oversold levels, typically considered an RSI reading of 25 or lower.
Traders may interpret an RSI reading in this range as a signal to enter a short position or to hold an existing short position. However, it is important to remember that the RSI is only one of many tools that traders use to make trading decisions and should not be relied upon in isolation.
For example, if a stock price is in a strong downtrend, and other technical indicators also indicate bearish momentum, a trader may take an RSI reading as confirmation of an overall bearish trend within that range.
On the other hand, if the stock price is in a trading range or in a consolidation pattern, an RSI reading in that range may not be significant and may not provide a clear signal.
The current Stochastic Oscillator of TQQQ is 50%. When the Stochastic Oscillator stays between 50 and 80, it may indicate that the stock is experiencing a mild downtrend with some selling pressure. In this case, an oversold signal could indicate that a stock is reaching a potential buying opportunity, but traders should confirm the signal with other technical indicators and fundamental analysis.
Traders can use oversold signals to consider adding to existing long positions or entering into new long positions. However, traders should be cautious as the stock may continue to trend downward and it is important to limit potential losses using proper risk management techniques such as placing stop loss orders.
Trend Outlook
The probability of TQQQ share price rising is 50.8%. When the probability of rising is higher than 50%, it means that the stock has a higher chance of rising; if the probability of rising is lower than 50%, it means that the probability of falling is high.
Combining multiple technical analysis indicators, TQQQ has 2 bullish signals and 6 bearish signals. TQQQ's short-term support level is 37.6. If it falls below 37.6 during the session, it will have a chance to test 37.0 . TQQQ's short-term resistance level is 41.3. If it breaks through 41.3 during the session, it will look up to 42.1 .