The stock had an unfinished bullish trend to conclude, but the corrective drive that sets in within the week has pushed the price down to re-test a key level that was broken earlier. Hence, a rejection of this level is now pushing the price to its bullish outlook, thus heading to the next resistance level.
Supply levels: $59, $63, $68
Demand levels: $54, $51, $46
TQQQ Medium-term Trend: Bullish
The stock Medium-term trend is now assuming its role, after a corrective move to the resistance level of $59; the price will likely go up to the resistance level of $63 or $68, or a higher high level.
From the daily chart outlook, the 14 and 50 Exponential Moving Averages are crossed and widely open for a strong bullish indication, while the MACD signal lines and Histogram bars are showing a weak bullish indication.
TQQQ Short-term Trend: Ranging
The price short-term trend is in flat market attire; the price slowed down momentum after hitting a price barrier level, the market may likely break this level re-align with the bigger trend direction, which is bullish.
The 4-hour chart is displaying a conflicting market signal; the 14 and 50 Exponential Moving Averages are indicating a bullish trend, while the MACD Indicator is on the bearish side.
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