Invesco QQQ Trust Stock Code QQQ.NAS
Outlook
Price reached a high of $342.80 but failed to move higher on another two attempts to break above. Price started to decline after the third attempt on 29 April. However, the decline was halted by the cloud and a price has started to move higher. In the previous trading session, price managed to close above the breakdown price, hinting of a possible price low and reversal. Conversion and Base lines have not given a bullish crossover as yet. Lagging Span is below price of 26 days ago but is above the cloud. MACD is about to turn around near the zero line. We think price is likely to move higher to the previous high at $343 in the next 2-3 weeks.
Strategy
$326.20 Buy
$342.20 Price Target
$315.20 Risk Management Stop
3 weeks Trade Duration
