QQQ TRENDS AND PRICE TARGETS, HOW MANY Q's SHOULD ONE HAVE?Technicals
RSI is overextending, however, a little cool down would reset the indicators and trigger buy signals across the board.
Bears should be looking for an entry, but not entering yet. Plan out a trade.
Bulls should be locking in profits and looking to buy the dip.
There are two super short term trends that are taking the price up. They are both rejection trends, which are trending in the bullish direction, in other words, price is going up following those trends.
There is a huge rejection trend labeled.
There is a mega support trend labeled.
There is a strong support trend labeled, which should likely trigger a buy signal should it fall to that support or possibly dip under for a brief period of time.
Above 480 starts to increase risk.
it can go higher to 500, and then possibly even to 600.
500 is way more likely than 600 on this run.
short term, again, could use a cool down to like 393.
I would suggest to wait for this cool down to enter expecting bullish movement. With price falling to multiple strong support lines, it is a favorable trade.
Price can keep going up. Don't expect it to go down. But understand, if it does, you'll be prepared for that movement, and have a trade with a high potential of profit.
If you miss out on a run because you were caution, simply wait for a rejection point and jump in short. Ride the wave down, then enter your long position. In other words, don't chase the movement, let the movement come to you, let it move past you, then ride the movement in your desired direction.
Linking my other QQQ posts and SPY posts
I usually don't TA these because I tend to trade the 3x leveraged (FNGU FNGD is one of my favorites), and I tend to get predictions wrong on these two. Will link some old ones talking about spy to 480 in the election year. MY MISTAKE was I thought the election year was 2023, so it was way off.
