TQQQ had an up price gap at the market opening, and this is in correlation with the general trend of the stock. Moreover, the currency is looking forward to reaching the next price resistance level.
Supply levels: $60, $63, and $68
Demand levels: $54, $51, and $46
TQQQ Medium-term Trend: Bullish
The pair medium-term trend is bullish, thus the market gap that occurred at the opening of the market is regarded as an expected price move that sees the price moving to the next price resistance level of $68. More attention should be paid to price reaction at the price resistance level of $68 because it will determine a further move of price to a higher high level or a possible market reversal for a bearish trend.
The daily price chart shows that price has moved away from the 14 and 50 Exponential Moving Averages, and the MACD Histogram bars are on the north side.
TQQQ Short-term Trend: Bullish
The short-term trend is bullish after breaking through a resistance price level; the market north movement is heading to the next price resistance level.
The 4-Hours chart shows that the 14 and 50 Exponential Moving Averages is below the price and the price is also far from them, and the MACD Histogram bars are building up gradually, for a bullish trend.
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