Price Action
* QQQ is trading in a descending channel, showing a clear downtrend over the short term.
* The price has tested the upper trendline resistance and failed to break above, confirming continued bearish pressure.
* The price is now near the middle of the channel, consolidating with slightly declining volume.
Indicators
* MACD: Bearish momentum persists as the histogram shows red bars and the MACD line remains below the signal line.
* Stochastic RSI: The indicator is nearing oversold territory, which may indicate a potential bounce or consolidation before continuing the trend.
Key Levels
* Resistance: $517 (upper channel resistance) and $514 (HVL resistance as per Options GEX).
* Support: $505 (lower channel boundary and put wall support from GEX data).
Trading Plan
1. For Longs:
* Wait for the price to break above $514 with strong volume and confirmation from MACD (crossover) and Stochastic RSI moving out of oversold.
* Entry: Above $514.
* Stop Loss: Below $505.
* Target: $522 (near next resistance level).
2. For Shorts:
* Enter if the price rejects at $514 or breaks below $505 with strong bearish momentum.
* Entry: Below $505.
* Stop Loss: Above $514.
* Target: $500 or lower channel boundary.
QQQ Options GEX Analysis (Daily Chart)
Gamma Exposure Levels
* Call Wall Resistance: $517 and $522, indicating strong resistance levels where call activity is concentrated.
* Put Wall Support: $505, marking a significant area of support from high put open interest.
* HVL at $514 is a critical pivot point that aligns with both GEX and price action resistance.
Volatility Insights
* IV Rank (IVR): 17.8, indicating relatively low implied volatility compared to historical levels. Options premiums may be cheaper for strategies like long calls or long puts.
Options Strategy
1. Bullish Strategy (If QQQ breaks above $514):
* Buy the $520 Call (weekly expiry) to capitalize on momentum toward $522–$525.
* Stop Loss: Close the position if QQQ falls below $514.
* Profit Target: Exit at $522 or $525.
2. Bearish Strategy (If QQQ breaks below $505):
* Buy the $500 Put (weekly expiry) to benefit from a drop toward $500 or lower.
* Stop Loss: Exit if QQQ reclaims $505.
* Profit Target: $500 or lower.
Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. Always perform your own due diligence and manage risk appropriately when trading stocks or options.
* QQQ is trading in a descending channel, showing a clear downtrend over the short term.
* The price has tested the upper trendline resistance and failed to break above, confirming continued bearish pressure.
* The price is now near the middle of the channel, consolidating with slightly declining volume.
Indicators
* MACD: Bearish momentum persists as the histogram shows red bars and the MACD line remains below the signal line.
* Stochastic RSI: The indicator is nearing oversold territory, which may indicate a potential bounce or consolidation before continuing the trend.
Key Levels
* Resistance: $517 (upper channel resistance) and $514 (HVL resistance as per Options GEX).
* Support: $505 (lower channel boundary and put wall support from GEX data).
Trading Plan
1. For Longs:
* Wait for the price to break above $514 with strong volume and confirmation from MACD (crossover) and Stochastic RSI moving out of oversold.
* Entry: Above $514.
* Stop Loss: Below $505.
* Target: $522 (near next resistance level).
2. For Shorts:
* Enter if the price rejects at $514 or breaks below $505 with strong bearish momentum.
* Entry: Below $505.
* Stop Loss: Above $514.
* Target: $500 or lower channel boundary.
QQQ Options GEX Analysis (Daily Chart)
Gamma Exposure Levels
* Call Wall Resistance: $517 and $522, indicating strong resistance levels where call activity is concentrated.
* Put Wall Support: $505, marking a significant area of support from high put open interest.
* HVL at $514 is a critical pivot point that aligns with both GEX and price action resistance.
Volatility Insights
* IV Rank (IVR): 17.8, indicating relatively low implied volatility compared to historical levels. Options premiums may be cheaper for strategies like long calls or long puts.
Options Strategy
1. Bullish Strategy (If QQQ breaks above $514):
* Buy the $520 Call (weekly expiry) to capitalize on momentum toward $522–$525.
* Stop Loss: Close the position if QQQ falls below $514.
* Profit Target: Exit at $522 or $525.
2. Bearish Strategy (If QQQ breaks below $505):
* Buy the $500 Put (weekly expiry) to benefit from a drop toward $500 or lower.
* Stop Loss: Exit if QQQ reclaims $505.
* Profit Target: $500 or lower.
Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. Always perform your own due diligence and manage risk appropriately when trading stocks or options.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.