QQQ ETF downgraded to Hold/Accumulate

The QQQ ETF price fell by -0.0126% on the last day (Wednesday, 30th Apr 2025) from $475.53 to $475.47. During the last trading day the ETF fluctuated 3.18% from a day low at $462.43 to a day high of $477.15. The price has been going up and down for this period, and there has been a 3.82% gain for the last 2 weeks. Volume has increased on the last day by 14 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 43 million shares were bought and sold for approximately $20.67 billion.

On Apr 24, 2025, it was reported that Wells Fargo gave QQQ a "Buy" grade with a "hold" action.

Given the current short-term trend, the ETF is expected to fall -16.42% during the next 3 months and, with a 90% probability hold a price between $328.56 and $397.41 at the end of this 3-month period. Do note, that if the ETF 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.

The QQQ ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the ETF. 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 $466.05 and $463.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 08, 2025, and so far it has risen 14.28%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.

QQQ finds support from accumulated volume at $466.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $14.72 between high and low, or 3.18%. For the last week, the ETF has had daily average volatility of 2.15%.

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.