The QQQ failed to hold its gains and sold off during the last hour of trading. But the 4-hour chart remains bullish.
30-Minute Chart
12 EMA: $166.27
26 SMA: $166.08
The 30-minute chart turned bearish during the last hour of trading when the QQQ sold below its 12 EMA and 26 EMA. The fast moving average remains valued above the slow moving average, but QQQ will need to quickly retake $166.30 to resume the bullish trend.
4-Hour Chart
12 EMA: $164.05
26 SMA: $163.29
On the 4-hour chart, the recovery from February lows remains intact as the 12 EMA is still valued above the 26 EMA and the QQQ trades above both moving averages. The first line of support comes in at $164.05 at the 12 EMA. A close below $163 would call into question the strength of the rally.
DISCLAIMER
This post is for information and illustrative purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action.
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