The ProShares UltraPro QQQ ETF has a bearish daily setup, despite oversold readings that complicate the near-term outlook…
The ProShares UltraPro QQQ ETF has a bearish daily setup, despite oversold readings that complicate the near-term outlook. Price stands below its daily exponential averages and lower Bollinger band. The hourly chart confirms that weakness, while the 15-minute MACD offers only limited counterweight.
Summary
Key takeaways
- TQQQ closed at $50.47 on Thursday, November 5, 2026, down 18.91% from the prior close of $62.24, with session volume of 230,687,300 shares.
- The daily RSI14 is 26.76, in oversold territory, and the daily MACD line at -4.6 is below its signal line at -2.87.
- The ETF’s close sits below the daily 20-session EMA ($67.07), 50-session EMA ($70.85), and 200-session EMA ($66.48).
- The hourly MACD line at -3.3 remains below its signal at -2.38, though the histogram improved to -0.93 from -0.97.
- Daily ATR14 rose to $4.39 from $3.81; the daily lower Bollinger band at $54.36 sits above the close.
ProShares UltraPro QQQ ETF: Daily Bias Remains Bearish
On Thursday, November 5, 2026, TQQQ opened at $59.84 and closed at $50.47. The session range spanned from a low of $50.25 to a high of $59.99. The ETF fell 18.91% versus the previous close, with session volume of 230,687,300 shares. Its prior close was $62.24 on November 4, 2026.
The daily close sits below the 20-session EMA at $67.07, the 50-session EMA at $70.85, and the 200-session EMA at $66.48. These averages form overhead reference levels, although their ordering is not a fully bearish stack. The 50-session average sits above the 20-session average, while the 200-session average is below both.
Meanwhile, daily RSI14 fell to 26.76 from 37.11, placing it in oversold territory. That reading does not establish a bullish reversal. The daily MACD line is -4.6, below its signal at -2.87, with a negative histogram of -1.73. The MACD configuration supports the bearish daily bias.
Notably, the close is below the daily lower Bollinger band at $54.36. The mid-band stands at $68.9 and the upper band at $83.44. Price is outside the lower boundary, rather than near the center of the band structure. Daily ATR14 rose to $4.39 from $3.81, indicating greater measured volatility than in the preceding daily candle.
Hourly Confirmation, With a Short-Term Conflict
Hourly Averages and Momentum
Hourly price action reinforces the daily view. The session close sits below the 20-hour EMA at $57.11. The 50-hour EMA at $61.49 and the 200-hour EMA at $69.14 extend further above. Price and these averages are bearishly stacked. Hourly RSI14 is 22.34, also oversold.
However, the hourly MACD histogram increased to -0.93 from -0.97. It remains negative: the MACD line at -3.3 is below the signal at -2.38. This indicator improvement does not outweigh the bearish average alignment. The close is above the hourly lower Bollinger band at $48.81 but below the mid-band at $58.43.
15-Minute Chart: Mixed Execution Signals
At the same time, the 15-minute chart presents mixed execution signals. Its MACD line at -1.66 is above the signal at -1.88, producing a positive histogram of 0.22. However, that histogram declined from 0.27. RSI14 is 29.83, in oversold territory, so the positive MACD relationship is not broad bullish confirmation.
The close also sits below the 15-minute 20-period EMA at $52.65 and the Bollinger mid-band at $52.05. It is just above the lower band at $50.35. These short-term levels matter for execution timing, not for replacing the daily bearish thesis.
Bullish and Bearish Conditions for the Next Session
Pivot Levels and Bullish Scenario
For the next session, the hourly pivot sits at $50.83, with first resistance at $51.41 and first support at $49.93. The daily pivot is $53.57, with first resistance at $56.89 and first support at $47.15. These are reference levels for when trading resumes.
A bullish scenario requires price to hold the session low at $50.25 and clear the hourly pivot at $50.83. Above hourly first resistance at $51.41, the daily pivot at $53.57 becomes the next broader hurdle. Clearing the daily lower Bollinger band at $54.36 would further support that case, ahead of daily first resistance at $56.89.
Bearish Scenario and Overall Assessment
Conversely, a break below $50.25 would undermine that bullish case. Hourly first support at $49.93 would then be the next downside reference, followed by the hourly lower Bollinger band at $48.81. Daily first support at $47.15 lies below both.
Overall, the ProShares UltraPro QQQ ETF stands at $50.47, below its next-session hourly and daily pivots. Daily ATR14 at $4.39 underscores the scope for price variability. Oversold RSI readings and the positive 15-minute MACD relationship complicate timing, but neither resolves the bearish daily structure.
FAQ
Where did the ProShares UltraPro QQQ ETF close on November 5, 2026?
TQQQ closed at $50.47, down 18.91% from the prior close of $62.24, with the session range spanning from $50.25 to $59.99.
What is the daily technical outlook for TQQQ?
The daily bias remains bearish. The close sits below the 20-session EMA ($67.07), 50-session EMA ($70.85), and 200-session EMA ($66.48). Daily RSI14 is 26.76, in oversold territory, and the daily MACD line at -4.6 is below its signal at -2.87.
Are there any conflicting signals on shorter timeframes?
The hourly chart confirms the bearish structure, with the close below all hourly EMAs and hourly RSI14 at 22.34. However, the 15-minute MACD line at -1.66 is above its signal at -1.88, producing a positive histogram of 0.22, though that histogram declined from 0.27.
What are the key levels for the next session?
The hourly pivot is $50.83 (R1: $51.41, S1: $49.93). The daily pivot is $53.57 (R1: $56.89, S1: $47.15). A bullish scenario requires holding above $50.25 and clearing $50.83, while a break below $50.25 exposes $49.93 and $48.81.
Disclaimer: This article is for informational purposes only and does not constitute financial advice, an investment recommendation, or a solicitation to buy or sell any financial instrument. The analysis provided is not indicative of future results. Investing in financial markets carries a high risk of capital loss. Always do your own research (DYOR) and consult a qualified financial advisor before making any decision.
Cryptonomist and the author hold no positions in the financial instruments mentioned and receive no compensation from the companies covered.
Article produced with the assistance of artificial intelligence and reviewed by the editorial team.
