Despite sitting above a resistance level the market has slow down momentum, thus finding it difficult to reach the next price resistance level. Hence waiting or a possible break out will be a good market decision.
Supply levels: $60, $63, $68
Demand levels: $54, $51, $46
TQQQ Medium-term Trend: Bullish
TQQQ price has been on top of a price resistance level of $63, waiting for a bullish or bearish break out, this will enable traders to take a good for trading decision. Noteworthy is the fact that if the price surges higher than the price resistance level of $68, the market will invariably create a new higher high target, but if the barrier target rejects the price there will be a trend turn-around for a bearish trend.
The 14 and 50 Exponential Moving Averages are below the price, thus showing a bullish indication. While the MACD Indicator Histogram bars are also on the bullish mode.
TQQQ Short-term Trend: Flat
The bumpy bullish ride of the stock seems to be halt, and this has given rise to a ranging market condition.
From the 4-hour chart, the price is above the 14 and 50 Exponential Moving Averages, for a bullish indication, and the MACD Indicator has lost market momentum.
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