How the (QQQ) price action is used to our Advantage
June 08, 2024, 14:24 pm ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for QQQ
- Buy QQQ slightly over 449.94 target 469.96 stop loss @ 448.64 Details
The technical summary data tells us to buy QQQ near 449.94 with an upside target of 469.96. This data also tells us to set a stop loss @ 448.64 to protect against excessive loss in case the stock begins to move against the trade. 449.94 is the first level of support below 462.96 , and by rule, any test of support is a buy signal. In this case, support 449.94 is being tested, a buy signal would exist.
- Short QQQ slightly under 469.96, target 449.94, stop loss @ 471.32 Details
The technical summary data is suggesting a short of QQQ as it gets near 469.96 with a downside target of 449.94. We should have a stop loss in place at 471.32though. 469.96 is the first level of resistance above 462.96, and by rule, any test of resistance is a short signal. In this case, if resistance 469.96 is being tested, a short signal would exist.
Swing Trading Plans for QQQ
- Buy QQQ slightly over 469.96, target n/a, Stop Loss @ 468.6 Details
If 469.96 begins to break higher, the technical summary data tells us to buy QQQ just slightly over 469.96, with an upside target of n/a. The data also tells us to set a stop loss @ 468.6 in case the stock turns against the trade. 469.96 is the first level of resistance above 462.96, and by rule, any break above resistance is a buy signal. In this case, 469.96, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short QQQ slightly near 469.96, target 461.7, Stop Loss @ 471.32. Details
The technical summary data is suggesting a short of QQQ if it tests 469.96 with a downside target of 461.7. We should have a stop loss in place at 471.32 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 469.96, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for QQQ
- Buy QQQ slightly over 467.89, target 469.96, Stop Loss @ 466.8 Details
If 467.89 begins to break higher, the technical summary data tells us to buy QQQ just slightly over 467.89, with an upside target of 469.96. The data also tells us to set a stop loss @ 466.8 in case the stock turns against the trade. 467.89 is the first level of resistance above 462.96, and by rule, any break above resistance is a buy signal. In this case, 467.89, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short QQQ slightly near 467.89, target 462.94, Stop Loss @ 468.98. Details
The technical summary data is suggesting a short of QQQ if it tests 467.89 with a downside target of 462.94. We should have a stop loss in place at 468.98 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 467.89, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Invesco Qqq Trust (QQQ) available here: QQQ.
QQQ Ratings for June 08:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Neutral |
Strong |
| P1 |
0 |
0 |
428.79 |
| P2 |
462.94 |
451.35 |
449.94 |
| P3 |
467.89 |
461.7 |
469.96 |
AI Generated Signals for QQQ
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Invesco Qqq Trust (NYSE: QQQ) data table below can help you with price action, and we have more details too. Trading plans for QQQ are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for QQQ:
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