Invesco QQQ Trust Stock Code QQQ.NAS
Outlook
Price broke and closed below the cloud last Friday, which could be the start of a bearish trend. Conversion and Base lines had a bearish crossover last Friday as well, confirming the bearish trend. Lagging Span is above price of 26 days ago and is inside the cloud at the moment and is unable to confirm the bearish trend at the moment. MACD has a bearish crossover signal while in the bullish zone but MACD is moving lower and should be crossing over to the bearish zone soon. The faster line had already moved past the zero line. Ichimoku chart had a V-shaped breakout with a V price projection target of $249.45, which is just below the resistance turned support line at $251.03
Strategy
$271.70 Short Sell
$251.00 Price Target
$281.20 Risk Management Stop
3 weeks Trade Duration
