QQQ ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
QQQ ETF upgraded to Buy Candidate.
(Updated on Jun 27, 2024)
The ETF lies in the middle of a strong 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 12.05% during the next 3 months and, with a 90% probability hold a price between $509.42 and $549.41 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 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 $480.31 and $462.08. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -0.742%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for QQQ ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $438.37 and $431.06. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, QQQ finds support just below today's level at $438.37. If this is broken, then the next support from accumulated volume will be at $431.06 and $414.65.
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 $3.79 (0.791%) between high and low. For the last week, the ETF has had daily average volatility of 0.89%.
Our recommended stop-loss: $462.54 (-3.96%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 47 days ago.)
Trading Expectations (QQQ) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Invesco QQQ Trust to open at $481.33, and during the day (based on 14 day Average True Range), to move between $476.43 and $486.79, which gives a possible trading interval of +/-$5.18 (+/-1.08%) up or down from last closing price. If Invesco QQQ Trust takes out the full calculated possible swing range there will be an estimated 2.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $485.06 (0.72%) than the support at $438.37 (8.98%), 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 Hold/Accumulate to a Buy candidate.
Current score: 2.503 Buy Candidate Upgraded
Predicted Opening Price for Invesco QQQ Trust of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $481.33 ( 0.0574%) | $481.61 |
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 | |
|---|---|---|
| R3 | 485.12 | 0.729% |
| R2 | 483.68 | 0.429% |
| R1 | 482.78 | 0.243% |
| Price | 481.61 | |
| S1 | 479.89 | -0.358% |
| S2 | 478.99 | -0.544% |
| S3 | 477.54 | -0.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 485.21 | 0.747% |
| R1 | 485.06 | 0.716% |
| Price | 481.61 | |
| S1 | 438.37 | -8.98% |
| S2 | 431.06 | -10.50% |
| S3 | 414.65 | -13.90% |
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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