QQQ ETF Forecast

Red day on Thursday for QQQ
(Updated on Apr 25, 2024)

QQQ Signals & Forecast

There are mixed signals in the ETF today. The QQQ ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $437.07. On a fall, the ETF will find some support from the short-term average at $422.68. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 2.36%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for QQQ ETF

QQQ finds support from accumulated volume at $421.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $7.18 (1.72%) between high and low. For the last week, the ETF has had daily average volatility of 1.78%.

Our recommended stop-loss: $405.25 (-4.52%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)

Trading Expectations (QQQ) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Invesco QQQ Trust to open at $422.64, and during the day (based on 14 day Average True Range), to move between $417.65 and $431.25, which gives a possible trading interval of +/-$6.80 (+/-1.60%) up or down from last closing price. If Invesco QQQ Trust takes out the full calculated possible swing range there will be an estimated 3.21% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $421.88 (0.61%) than the resistance at $433.92 (2.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

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.

Current score: -0.399 Hold/Accumulate Unchanged

Predicted Opening Price for Invesco QQQ Trust of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.