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AngD1899
Mar 9, 2022 1:44 PM

QQQ reversal? 

Invesco QQQ Trust, Series 1NASDAQ

Description

Inverse head and shoulders looks to be forming.

318 acted as a nice support and bounce.

Price targets are 348 and 376, the 50 and 200sma. It will need to regain both these levels to be considered an uptrend imo.

these are choppy market conditions so use tight stop loss and limit emotions.

DYOR.


Comments
AngD1899
Pt Target 1 hit. Goo to exit or take profits. If holding for pt 2, i would move stop loss to 341 at the minimum.
elghazaliahmed1999
that looks like a descending wedge, i think we're going to break down of 318
kwancy11
Don't fool yourself. There is not shoulder... only dead meat. QQQ is heading lower from here...the dead cat bounce is over.
AngD1899
@kwancy11, Appreciate your response! A dead cat bounce is for sure a possibility but i do believe short term QQQ should go a little higher, especially with the amazon news
AngD1899
I stand corrected!
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