QQQ: Doing as expected, but be careful with this resistance!
• QQQ did an Above the Stomach candlestick pattern just above the previous support at $268 (black line);
• This candlestick pattern was triggered, and QQQ is trading at its first technical target at the 21 ema;
• QQQ didn’t trigger the bullish candlestick pattern we mentioned last week, and the moment it lost the $275, it just went down to seek our next target at $268, and it hit it with astonishing precision before reacting again, as we expected. The link to my previous analysis is below this post;
• Now that it is near its 21 ema, we’ll see if this is a Dead Cat Bounce or a meaningful reversal sign;
• If it loses yesterday’s low, it’ll show some weakness and a bearish thesis will gain strength. However, by breaking the 21 ema, a mid-term reversal would have a first target at $307, to fill the first gap (yellow square);
• Either way, QQQ is about to do something interesting;
I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
• This candlestick pattern was triggered, and QQQ is trading at its first technical target at the 21 ema;
• QQQ didn’t trigger the bullish candlestick pattern we mentioned last week, and the moment it lost the $275, it just went down to seek our next target at $268, and it hit it with astonishing precision before reacting again, as we expected. The link to my previous analysis is below this post;
• Now that it is near its 21 ema, we’ll see if this is a Dead Cat Bounce or a meaningful reversal sign;
• If it loses yesterday’s low, it’ll show some weakness and a bearish thesis will gain strength. However, by breaking the 21 ema, a mid-term reversal would have a first target at $307, to fill the first gap (yellow square);
• Either way, QQQ is about to do something interesting;
I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
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