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PowerShares QQQ Trust Ser 1 (QQQ) “On a long-term technical basis, the stock (QQQ) is trading above its 200-day moving average which implies it is in a positive trend.
The stock has support at 188.41 and 178.25. If the stock breaks down through support at 188.41 then it will probably continue lower to 178.25. The stock will meet resistance at 189.46 and 219.05. If the stock breaks up through resistance at 189.46 then it will probably continue higher to 219.05. The 200-day moving average is at 180.07. This will also act as support. The stock is slightly oversold according to the Stochastic Indicator (32.24).”
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