(QQQ) Pivots Trading Plans and Risk Controls

October 07, 2024, 23:50 pm ET, BY Robert S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for QQQ

• Buy QQQ near 466.25 target 491.9 stop loss @ 464.9 Details

The technical summary data tells us to buy QQQ near 466.25 with an upside target of 491.9. This data also tells us to set a stop loss @ 464.9 to protect against excessive loss in case the stock begins to move against the trade. 466.25 is the first level of support below 482.1 , and by rule, any test of support is a buy signal. In this case, support 466.25 would be being tested, so a buy signal would exist.

• Short QQQ slightly under 491.9, target 466.25, stop loss @ 493.32 Details

The technical summary data is suggesting a short of QQQ as it gets near 491.9 with a downside target of 466.25. We should have a stop loss in place at 493.32though. 491.9 is the first level of resistance above 482.1, and by rule, any test of resistance is a short signal. In this case, if resistance 491.9 is being tested, so a short signal would exist.

Swing Trading Plans for QQQ

• Buy QQQ slightly over 487.76, target 491.9, Stop Loss @ 486.35 Details

If 487.76 begins to break higher, the technical summary data tells us to buy QQQ just slightly over 487.76, with an upside target of 491.9. The data also tells us to set a stop loss @ 486.35 in case the stock turns against the trade. 487.76 is the first level of resistance above 482.1, and by rule, any break above resistance is a buy signal. In this case, 487.76, 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 487.76, target 480.2, Stop Loss @ 489.17. Details

The technical summary data is suggesting a short of QQQ if it tests 487.76 with a downside target of 480.2. We should have a stop loss in place at 489.17 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, 487.76, 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 483.42, target 487.31, Stop Loss @ 482.29 Details

If 483.42 begins to break higher, the technical summary data tells us to buy QQQ just slightly over 483.42, with an upside target of 487.31. The data also tells us to set a stop loss @ 482.29 in case the stock turns against the trade. 483.42 is the first level of resistance above 482.1, and by rule, any break above resistance is a buy signal. In this case, 483.42, 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 483.42, target 480.2, Stop Loss @ 484.55. Details

The technical summary data is suggesting a short of QQQ if it tests 483.42 with a downside target of 480.2. We should have a stop loss in place at 484.55 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, 483.42, 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 October 07:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Strong
P1	0	0	466.25
P2	483.42	480.2	491.9
P3	487.31	487.76	515.13

AI Generated Signals for QQQ

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This Invesco Qqq Trust (NYSE: QQQ) report was produced by Stock Traders Daily.  Over the past 20 years our metholdology has been refined to help identify strategies for both individual stocks and the stock markets, with prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for QQQ change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if QQQ is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for QQQ too.  All of these are offered below the Summary Table.