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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 195.55 and 183.78. If the stock breaks down through support at 195.55 then it will probably continue lower to 183.78. The stock will meet resistance at 198.94 and 219.05. If the stock breaks up through resistance at 198.94 then it will probably continue higher to 219.05. The 200-day moving average is at 183.78. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (93.49).”
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