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Downtrend Broken Resist.Archive
- 5/2/2025 -
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NASDAQ 100 Trust Shares (QQQ) Technical Analysis
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| Summary:
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| | It was a second consecutive positive week for the NASDAQ 100 Trust Shares (QQQ). During the week, the QQQ gained 16.23 points, or 3.43%, and closed at 488.83 on Friday, May 2, 2025. Weekly volume was 8% above average.
 Long-term trend: [See QQQ long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 254.26 and reached 540.80 on February 19, 2025. QQQ gained -286.54 points, or -112.70%, in 122 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 482.25 and resistance is at 554.74. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.
 Medium-term trend: [See QQQ medium-term trend chart]
A medium-term downtrend had started on February 19, 2025 at 540.80 and reached 402.40 on April 7, 2025. QQQ lost 138.40 points, or 25.59%, in 6 weeks. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See QQQ weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since January 10, 2025. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See QQQ short-term trend chart]
A short-term uptrend had started on April 7, 2025 at 402.40 and reached 490.91 on May 2, 2025. QQQ gained -88.51 points, or -22.00%, in 25 days. Price is near the trend high.
 Daily Technical Indicators: [See QQQ daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since April 11, 2025. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.
During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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