Technical analysis by BullBearInsights about Symbol QQQX on 8/10/2025

Technical Analysis (1H Chart)
QQQ is trading at $575.96, continuing to ride inside a well-defined ascending channel. The price action shows consistent higher highs and higher lows, with the current test near the upper boundary of the channel. Immediate resistance sits at 577–578, where the previous swing high and channel top converge. A breakout above 578 could open the path toward 580–582.5, aligning with the upper channel projection. On the downside, the first support is at 573.2 (recent breakout zone), followed by 569.2 and 566.7 as deeper pullback levels. The MACD remains bullish with widening histogram bars, but Stoch RSI is overbought (>95), suggesting potential short-term consolidation or a minor pullback before continuation. Bullish Scenario: Break above 578 with strong volume can push toward 580–582.5.
Bearish Scenario: Failure at 577–578 with rejection could bring a pullback toward 573.2 and possibly 569.2. GEX / Options Sentiment (1H View) * Key Call Walls: * 577.00 – Highest positive NET GEX / Gamma Wall resistance * 574.00–575.00 – 3rd Call Wall (54.5%) * 572.00 – 2nd Call Wall (55.78%) * Key Put Walls: * 571.00 – 3rd Put Wall (-6.95%) * 565.00–566.00 – HVL support & PUT wall * 560.00 – Strong PUT support (-59.08%) * GEX Bias: Positive above 572–573, meaning upside moves may slow due to dealer hedging, but still favor controlled grind higher. Negative GEX below 571 signals accelerated selling potential. * Options Flow: Puts at 53.9% indicate a slightly defensive stance despite the bullish price structure. IVR is low at 11.7, suggesting cheaper options pricing. Options Strategy Thoughts: * Bullish Swing: Call debit spreads targeting 580–582 if price confirms above 578. * Bearish Hedge: Short-term puts or put spreads if rejection at 577–578 aligns with overbought conditions. * Neutral: Consider selling iron condors around 565–580 range if expecting channel-bound trade before a breakout. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage risk before trading.