BEST STOCKS TO BUY TODAY: QID @03/10/2023
| Ticker | QID, Financial | Note |
| Last Price | 21.92 | |
| Buy | 21.92 | Limit Order This is generated by our mechanical trading system. Please read the chart section for more detailed and flexible entry options. |
| Target | 24.11 | Default at 10%, Or Sell when close below ma5(short term)/10(midterm)/20(long term) or when big down day or when formed inverted hammer at a resistance level |
| Stop | 20.9 | |
| Reward/Risk | 2.16 : 1 |
More Technical Status
| ATR | 0.83 | |
| Beta | – | |
| RSI(14) | 56.82 | |
| SMA20 | 6.63% | Distance to SMA20 |
| SMA50 | -0.86% | Distance to SMA50 |
| Recommendation | – | Analysts’ mean recommendation (1=Buy 5=Sell) |
Our system generated several buy signals today. QID is one of them. Let’s take a look at this stock’s chart.
QID is the bear fund of Nasdaq Index. It made a higher low and it closed right at the previous high. If it breaks out and most likely it will come back to test $21.92 level. Buy at that level if it holds. However the ideal situation is it will pull back to the buying box area around $21. That will give us a better entry.
With current news in bank section on wall street, and powell’s strong monetary policy, it will take a while before this downturn ends. So QID definitely have more up space to go.
If you have higher risk tolerance, you can even take SQQQ which is 3X Nasdaq Index.
QID Detail Information
The ProShares UltraShort QQQ (QID) is an exchange-traded fund (ETF) that seeks to provide investors with twice the inverse daily return of the Nasdaq-100 Index. In other words, QID aims to deliver double the daily percentage decline of the Nasdaq-100. QID is designed for traders and investors who are bearish on the technology-heavy Nasdaq-100 and want to profit from its potential decline. It is important to note that QID is a leveraged ETF, meaning that it uses financial derivatives and other instruments to amplify its returns, but this also means that it carries higher risk and may not be suitable for all investors.