QQQ ETF Forecast

Buy candidate since Jan 17, 2025

The QQQ ETF price increased 1.69% on the most recent trading day (Friday, January 17, 2025), moving up from $513.08 to $521.74. Throughout that trading day, the ETF experienced a fluctuation of 2.14%, with a low of $513.11 and a high of $524.07. The price has shown variability during this period, and there has been a total gain of 2.26% over the past two weeks. Additionally, trading volume increased on the last day alongside the price rise, which is a positive technical indicator, with 23 million more shares traded compared to the previous day. In total, 50 million shares were exchanged for around $26.19 billion.

The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 5.57% during the next 3 months and, with a 90% probability hold a price between $534.72 and $578.66 at the end of this 3-month period.

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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 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 $512.09 and $519.04. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, January 14, 2025, and so far it has risen 3.30%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for QQQ ETF

QQQ finds support from accumulated volume at $518.66 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 ETF. During the last day, the ETF moved $10.96 between high and low, or 2.14%. For the last week the ETF has had daily average volatility of 1.51%.

Our recommended stop-loss: $495.77 (-4.98%) (This ETF has very low daily movements and this gives very low risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (QQQ) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Invesco QQQ Trust to open at $519.64, and during the day (based on 14 day Average True Range), to move between $512.84 and $530.64, which gives a possible trading interval of +/-$8.90 (+/-1.71%) up or down from last closing price. If Invesco QQQ Trust takes out the full calculated possible swing range there will be an estimated 3.41% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $522.56 (0.16%) than the support at $518.66 (0.59%), 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?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for QQQ ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.

Current score: 3.194 Buy Candidate Upgraded

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Predicted Fair Opening Price

Predicted fair opening price on January 21, 2025 - $519.64 ( 0.402%).