Technical analysis by pakoumal about Symbol QQQX on 8/9/2025

QQQ appears like it’s entering a make or break moment where breakouts above resistance run fast, but a failure often leads to a retest of recent support levels Trend is still bullish with price above all short-term MAs, 5d EMA ($569.29) & 10d EMA ($563.34) as support Volume is lower than the earlier push, which might suggest the rally is running on lighter participation or profit-taking Immediate resistance is $575.25 so a break above with volume could trigger continuation toward $580 Support levels at $569.29, then $563.34, with stronger support around $557.39 Chart shows a bullish engulfing continuation pattern The green candle’s body fully engulfs the prior small red candle’s body It appears after a short pullback inside an overall uptrend This is a continuation signal, not a reversal, since the trend was already bullish before it appeared Given it’s pressing right against a recent high ($575.25), this may be a mini bull flag breakout attempt, but it still needs to close above that high to confirm QQQ is at a prime reversal risk area Price is testing resistance ($575.25) after multiple green closes (extended moves into resistance often attract profit-taking) Volume is lighter on this push than earlier in the rally, showing less conviction Price is several points above the 5d EMA ($569.29), so mean reversion risk is higher given short-term overextension If Monday opens higher, but fails to break $575.25 & closes red, that would print a potential shooting star/hanging man depending on wick length, both bearish signs So while the default bias is still up until support breaks, QQQ is at the inflection point where, Break above $575.25 with strong volume, then a possible continuation higher Failure & close under $569, then short-term reversal lower may play out Some possible reversal levels on QQQ based on the chart $575.25 - if price breaks above, but quickly rejects & falls back under this level on high selling volume, it’s a bull trap signal $572.00 - a break below this with momentum increases reversal odds A close below $569.29 (5d EMA) after Friday’s breakout attempt may be the first technical sign of reversal The 10d EMA of $563.34 is the prior pivot low, so a close lower could possibly confirm a short-term trend shift Some possible confirmation signals Big upper wick near highs & red close on Monday may suggest a bearish candlestick confirmation Spike in volume on a red candle may suggest that institutions are distributing at the top RSI rolling over from overbought levels If Monday opens strong, but stalls near $575.25, suggests a high-probability day trade short for a pullback to $569-$570 If price gaps above $575.25 & holds, the reversal risk is lower until at least $580 * [I]I am not a licensed professional & these posts are for informational purposes only, not financial advice