QQQ: These are the KEY POINTS we must watch from here!
• Since QQQ hit the previous top at $284, it corrected, and now it is back to its support level, around the 21 ema/38.2% retracement;
• The trend is still bearish, and in theory, QQQ is supposed to keep dropping to the next support levels, like the 61.8% retracement;
• By losing the 61.8%, there’s no other support until the $250;
• However, if QQQ does a bullish pattern above one of the retracements, it might indicate a true bullish reversal, especially if it breaks the $284;
• If this scenario materializes in the next few days, the next technical target is the gap around $307 (yellow square);
• It all depends on how tech stocks will take the next earnings. Either way, if QQQ will break the $284 or seek lower support levels, we’ll have our answer soon.
Remember to follow me to keep in touch with my analyses!
• The trend is still bearish, and in theory, QQQ is supposed to keep dropping to the next support levels, like the 61.8% retracement;
• By losing the 61.8%, there’s no other support until the $250;
• However, if QQQ does a bullish pattern above one of the retracements, it might indicate a true bullish reversal, especially if it breaks the $284;
• If this scenario materializes in the next few days, the next technical target is the gap around $307 (yellow square);
• It all depends on how tech stocks will take the next earnings. Either way, if QQQ will break the $284 or seek lower support levels, we’ll have our answer soon.
Remember to follow me to keep in touch with my analyses!
⚠️ Want to take your trading to the next level?
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.