Score 9.2 (out of 10): INVESCO QQQ TRUST sets up for +6% rally in 1 month

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What’s Going On Here?

Stronger-than-expected quarterly results from Netflix Inc. fueled a rally in tech stocks, easing investor concerns about growth in one of the hardest hit sectors this year.

Why Now?

INVESCO QQQ TRUST has triggered a new technical analysis ‘rally reversal’ signal. During similar occasions, INVESCO QQQ TRUST shares had a median return of +6%, over the following 1 month – based on 10 historical occasions with 9 of those showing positive returns (90%). This buy signal for INVESCO QQQ TRUST received a high score of 9.2 (out of 10). This insight was generated on 2022-October- 18 with last price of 271.48.

What’s This Asset About?

INVESCO QQQ TRUST is in the Sector Fund-Technology business. Based on the last 2 years’ risk/return profile, this asset is seen as Very Risky. Ticker symbol: QQQ US.

What’s My Risk / Reward and Time Horizon?

We found 1 month to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 287.74 (+6%) has been reached. Based on INVESCO QQQ TRUST’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 260.38 (last price at 271.48), which is equivalent to a -4.1% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ under (2), etc.

Previous episodes:

6.3% (February-2022), -1.6% (December-2021), 9.6% (September-2021), 6.4% (May- 2021), 5.7% (February-2021), 5.7% (August-2020), 14% (February-2020), 3.1% (July-2019), 5.5% (April-2019), 7.9% (November-2018).

Historical Chart:

Summary:

NameINVESCO QQQ TRUST
ViewUp
Star (1 to 10)9.2
Target+6%
Time1 month
Hit Rate90%

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