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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 190.69 and 179.67. If the stock breaks down through support at 190.69 then it will probably continue lower to 179.67. The stock will meet resistance at 194.19 and 219.05. If the stock breaks up through resistance at 194.19 then it will probably continue higher to 219.05. The 200-day moving average is at 181.58. This will also act as support. The stock is slightly overbought according to the Stochastic Indicator (72.11).”
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