Will ProShares UltraPro Short QQQ (SQQQ) Short Squeeze Soon? The Stock Formed a Wedge Down Chart Pattern

January 23, 2018 - By Vivian Park

The stock of ProShares UltraPro Short QQQ (SQQQ) formed a down wedge with $15.75 target or 6.00 % below today’s $16.76 share price. The 8 months wedge indicates high risk for the $487.87M company. If the $15.75 price target is reached, the company will be worth $29.27M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 1.82% or $0.3111 during the last trading session, reaching $16.7589. About 2.04 million shares traded. ProShares UltraPro Short QQQ (NASDAQ:SQQQ) has declined 59.78% since January 23, 2017 and is downtrending. It has underperformed by 76.48% the S&P500.

More important recent ProShares UltraPro Short QQQ (NASDAQ:SQQQ) news were published by: Etfdb.com which released: “10 ETFs for Risk Reduction in Your Portfolio” on March 22, 2016, also Marketwatch.com published article titled: “ProShares UltraPro Short QQQ”, Nasdaq.com published: “7 Biggest ETF Stories of 2017 to Continue in 2018” on December 27, 2017. More interesting news about ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was released by: Thestreet.com and their article: “‘I Am Positioned Aggressively for a Stock Market Correction,’ Says Doug Kass” with publication date: June 05, 2017.

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