QQQ ETF Forecast
QQQ ETF downgraded to Hold/Accumulate
(Updated on May 10, 2024)
The ETFis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $443.64 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect QQQ ETF with a 90% probability to be traded between $408.71 and $438.59 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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QQQ Signals & Forecast
The QQQ ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $438.01 and $435.11. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 6.61%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for QQQ ETF
QQQ finds support from accumulated volume at $439.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $3.81 between high and low, or 0.87%. For the last week the ETF has had daily average volatility of 0.779%.
Our recommended stop-loss: $420.49 (-4.88%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (QQQ) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Invesco QQQ Trust to open at $442.29, and during the day (based on 14 day Average True Range), to move between $435.98 and $448.14, which gives a possible trading interval of +/-$6.08 (+/-1.38%) up or down from last closing price. If Invesco QQQ Trust takes out the full calculated possible swing range there will be an estimated 2.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $443.66 (0.36%) than the support at $439.02 (0.69%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Invesco QQQ Trust ETF A Buy?
QQQ holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.602 Hold/Accumulate Downgraded
Predicted Opening Price for Invesco QQQ Trust of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $442.29 ( 0.0520%) | $442.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QQQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 446.10 | 0.91 % | |
| R2 | 444.64 | 0.585 % | ||
| R1 | 443.75 | 0.381 % | ||
| Current price: | 442.06 | |||
| Support | S1 | 440.83 | -0.277 % | |
| S2 | 439.93 | -0.481 % | ||
| S3 | 438.48 | -0.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 445.37 | 0.749 % | |
| R2 | 443.77 | 0.387 % | ||
| R1 | 443.66 | 0.362 % | ||
| Current price | 442.06 | |||
| Support | S1 | 439.02 | -0.688% | |
| S2 | 435.34 | -1.52% | ||
| S3 | 414.65 | -6.20% |
QQQ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Apr 30, 2024 | $0.573 | 0.135% |
| 2 | Dec 26, 2023 | Dec 27, 2023 | Jan 15, 2024 | $0.216 | 0.0527% |
| 3 | Dec 18, 2023 | Dec 18, 2023 | Dec 29, 2023 | $0.81 | 0.197% |
| 4 | Sep 18, 2023 | Sep 18, 2023 | Oct 31, 2023 | $0.536 | 0.153% |
| 5 | Sep 08, 2023 | Jun 20, 2023 | Jul 31, 2023 | $0.504 | 0.131% |
FAQ
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