NASDAQ:SQQQ', 'ProShares UltraPro Short QQQ', 'http://kldaily.com/kl-logo.png');

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

December 7, 2017 - By Lynda A. Deweese

The stock of ProShares UltraPro Short QQQ (SQQQ) formed a down wedge with $21.52 target or 4.00 % below today’s $22.42 share price. The 6 months wedge indicates high risk for the $509.04 million company. If the $21.52 price target is reached, the company will be worth $20.36M 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 1.06% or $0.24 during the last trading session, reaching $22.42. About 6.33M shares traded or 5.97% up from the average. ProShares UltraPro Short QQQ (NASDAQ:SQQQ) has declined 59.78% since December 8, 2016 and is downtrending. It has underperformed by 76.48% the S&P500.

More recent ProShares UltraPro Short QQQ (NASDAQ:SQQQ) news were published by: Fool.com which released: “Which Nasdaq ETF is Right for You?” on June 05, 2015. Also Thestreet.com published the news titled: “All the Rallying Big Bank Stocks Look Very Risky, Doug Kass Says” on June 19, 2017. Marketwatch.com‘s news article titled: “ProShares UltraPro Short QQQ” with publication date: June 16, 2010 was also an interesting one.

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