When the Price of Proshares Ultrapro Qqq TQQQ Talks, People Listen

September 14, 2021, 09:15 am ET, BY Billy- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Proshares Ultrapro Qqq (NASDAQ: TQQQ) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for TQQQ can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports. 

Longer Term Trading Plans for TQQQ

• Buy TQQQ slightly over 135.60 target 147.65 stop loss @ 135.21 Details

The technical summary data tells us to buy TQQQ near 135.60 with an upside target of 147.65. This data also tells us to set a stop loss @ 135.21 to protect against excessive loss in case the stock begins to move against the trade. 135.60 is the first level of support below 146.76 , and by rule, any test of support is a buy signal. In this case, support 135.60 is being tested, a buy signal would exist.

• Short TQQQ under 147.65, target 135.60, stop loss @ 148.08 Details

The technical summary data is suggesting a short of TQQQ as it gets near 147.65 with a downside target of 135.60. We should have a stop loss in place at 148.08though. 147.65 is the first level of resistance above 146.76, and by rule, any test of resistance is a short signal. In this case, if resistance 147.65 is being tested, a short signal would exist.

Swing Trading Plans for TQQQ

• Buy TQQQ slightly over 147.65, target 148.90, Stop Loss @ 147.22 Details

If 147.65 begins to break higher, the technical summary data tells us to buy TQQQ just slightly over 147.65, with an upside target of 148.90. The data also tells us to set a stop loss @ 147.22 in case the stock turns against the trade. 147.65 is the first level of resistance above 146.76, and by rule, any break above resistance is a buy signal. In this case, 147.65, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short TQQQ near 147.65, target 135.60, Stop Loss @ 148.08. Details

The technical summary data is suggesting a short of TQQQ if it tests 147.65 with a downside target of 135.60. We should have a stop loss in place at 148.08 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 147.65, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for TQQQ

• Buy TQQQ slightly over 147.65, target 149.10, Stop Loss @ 147.31 Details

If 147.65 begins to break higher, the technical summary data tells us to buy TQQQ just slightly over 147.65, with an upside target of 149.10. The data also tells us to set a stop loss @ 147.31 in case the stock turns against the trade. 147.65 is the first level of resistance above 146.76, and by rule, any break above resistance is a buy signal. In this case, 147.65, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short TQQQ near 147.65, target 145.76, Stop Loss @ 147.99. Details

The technical summary data is suggesting a short of TQQQ if it tests 147.65 with a downside target of 145.76. We should have a stop loss in place at 147.99 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 147.65, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

TQQQ Ratings for September 14:

Term →	Near	Mid	Long
Rating	Weak	Strong	Strong
P1	0	0	122.79
P2	145.76	148.90	135.60
P3	149.10	156.36	147.65

Support and Resistance Plot Chart for TQQQ

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