Stronger technical forecast for QQQ ETF price after Thursday trading

The QQQ ETF price gained 2.81% on the last trading day (Thursday, 24th Apr 2025), rising from $454.56 to $467.35. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 2.60% from a day low at $455.83 to a day high of $467.66. The price has risen in 6 of the last 10 days and is up by 0.29% over the past 2 weeks. Volume fell on the last day by -10 million shares and in total, 45 million shares were bought and sold for approximately $20.92 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

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 -17.67% during the next 3 months and, with a 90% probability hold a price between $327.67 and $384.79 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.

Mostly positive signals in the chart today. The QQQ ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the ETF, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $449.39 and $464.78. 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 12.33%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched 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 $11.83 between high and low, or 2.60%. For the last week, the ETF has had daily average volatility of 2.30%.

Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.