Loading ...QQQ Bullish View: 20% Upside?
On the weekly, I see a breakout from a possible descending broadening wedge with a price target near 206 which is about 20% upside from current prices. This week may also see the first weekly close above the 50 week moving average since the lows. -Harry
Still this rally looks too steep.
Still could be at least a retest of your broadening wedge pattern and that’s a long way down…also could be a H and S Top and the end of the Bull Run
The 2 major fundamental causes of the drop are being resolved apparently so all the good news may now be in.
we shall see…but one thing for sure…I am not touching this
🙂
This rally was steep, and so was the plunge in December. If things get bearish, these bullish clues will start to reverse: Lose the 50 week average, retest and fail the wedge, retest and fail the looming H and S neckline. We’ll start making downside price target charts!
Prudence wins over Greed.
Good choice Fully.
I agree longer term but maybe not right away…
Indeed, timeline is unknown. Might grind sideways for months, a year, to frustrate both bulls and bears!