I am expecting TQQQ to hold the channel line, the SMA (red), and the long term resistance/support line (yellow). So long as this holds I anticipate a price target of $160/$165 by 10/01. Adjust stop losses accordingly to protect against the downside.
TQQQ blasted through the 1D resistance formed Aug 30 2018. It's now acting as support with bulls defending and winning the channel each time.
From here on out the future looks bright.
Correction is likely coming sometime in the near term. Adjust stop losses accordingly.
TQQQ is struggling to break out of a pattern set between sept, march and again in July on the 1d chart. We would expect it to stay in channel, but is meeting the upper resistance. Will be watching closely to see what happens next and setting limits accordingly.
Hey all! This is my first idea please let me know what you think, or where I could improve. I am expecting it to break up off of $120 towards $140 during early of September, but please let me know how I can improve!
