The Long Investor

$SQQQ

Added 2024-04-16 09:16:48 +0000 UTC

$SQQQ is a stock that many will be considering right now and a chart we have followed very closely.

We can see clearly here that this has been following our projection, likewise, so has the $QQQ chart.

$SQQQ has managed to find support on the 0.5 Fib at $10.28 6 times now and on the daily chart, it has finally broke above its 50 Day MA......we want to see the exact inverse indications as the $QQQ.....so we wanted to see a breakout here but now we must see a retest of the 50 Day MA from above to confirm that this is a support level before considering a position.

I do not think anyone should be going in heavy on this position because of its leveraged makeup, you do not want to be on the wrong side of this.

I went heavy into Silver because it is stable and not leveraged, I would much prefer to see people do this instead of the other way around.

We will watch for both retests from the $QQQ and $SQQQ to confirm our thought process but lets get this right and not try and time the bottom, we want confirmation, not gambling.