Comprehensive non-correlated Proshares Ultrapro Qqq $TQQQ Trading Report
Review the TQQQ Trading Plans:
Long Term Trading Plans for TQQQ
October 17, 2020, 6:45 pm ET
The Technical Summary and Trading Plans for TQQQ help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this TQQQ Report.
TQQQ - (Long) Support Plan
The technical summary data tells us to buy TQQQ near 120.53 with an upside target of 151.56. This data also tells us to set a stop loss @ 120.18 to protect against excessive loss in case the stock begins to move against the trade. 120.53 is the first level of support below 145.1 , and by rule, any test of support is a buy signal. In this case, support 120.53 is being tested, a buy signal would exist.
TQQQ - (Short) Resistance Plan
The technical summary data is suggesting a short of TQQQ as it gets near 151.56 with a downside target of 120.53. We should have a stop loss in place at 152 though. 151.56 is the first level of resistance above 145.1, and by rule, any test of resistance is a short signal. In this case, if resistance 151.56 is being tested, a short signal would exist.