QQQ: Pay attention to this CHART PATTERN!
• QQQ is very volatile, and since it hit the ceiling of this Broadening Wedge, it dropped sharply, and now, we are near the bottom line;
• If QQQ does a downwards breakout, and loses the support line, the gap at $268.50 is a reasonable target to work with;
• So far, there’s no evidence that it’ll react and find a bottom, but if does, the timing couldn’t be better, as we are near a support level;
• The 21 ema is flat, and it seems QQQ is just erratic. Either way, as long as it stays inside this Wedge, nothing meaningful will happen. Let’s wait for a breakout.
Recently, we scored another target on QQQ (link to my previous analysis is below this post), but now, it is time to be cautious.
Remember to follow me to keep in touch with my daily analyses!
• If QQQ does a downwards breakout, and loses the support line, the gap at $268.50 is a reasonable target to work with;
• So far, there’s no evidence that it’ll react and find a bottom, but if does, the timing couldn’t be better, as we are near a support level;
• The 21 ema is flat, and it seems QQQ is just erratic. Either way, as long as it stays inside this Wedge, nothing meaningful will happen. Let’s wait for a breakout.
Recently, we scored another target on QQQ (link to my previous analysis is below this post), but now, it is time to be cautious.
Remember to follow me to keep in touch with my daily analyses!
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