QQQ: 50DMA Now Resistance — Key Volume Levels Ahead
$Invesco QQQ(QQQ)$ : The 50DMA has officially flipped to resistance.
As mentioned, price action on Friday closed weak, green Monday vanishing was expected.
The question today is: will you buy at the current volume shelf (A), at the next gap & shelf (B), or are you looking forward to (C)?
Stock chart for QQQ on daily timeframe displays candlestick price action with green and red bars forming an uptrend that peaks and pulls back.
Blue line represents 50-day moving average sloping upward then flattening as resistance. Green shaded areas indicate volume profiles with high volume shelves. Yellow horizontal lines mark support and resistance levels labeled A at 464, B at 460, and C lower near 450.
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