- Invesco QQQ has outperformed the S&P 500 in the last quarter by 0.42% and is ready to do the same in next
- Technical indicators of QQQ stock price are favoring the upside move. It is currently trading near the value of $283
Invesco QQQ Trust series is an exchange traded fund which was launched by Invesco Ltd. They invest in equity market across the globe. They seek to track the performance of Nasdaq 100 index using full replication technique. In the previous quarter QQQ ETF has returned -4.46% which is 0.42% more from S&P 500. QQQ funds has a large exposure to consumer directory sector and has a less exposure to Health Care sector. This might be one of the main main factors behind the low performance of QQQ trust fund. Various analysts are expecting a strong growth in upcoming quarter by QQQ trust fund.
Invesco QQQ trust has a total asset of 151.4 Billion with a PE ratio of 3.76. QQQ stock price is currently 40% away from its 52 week high but can soon cross above it.
Bulls Of QQQ Stock Price Are Gearing Up For Marathon
The weekly technical chart of QQQ stock price suggests a weak upside trend for the future. On coming to the daily chart the asset price has seen a gain of 1.18% and is currently trading near the value of $283. The upside momentum of QQQ can see a halt near the value of $300. Meanwhile a bounceback can be expected from $200. The asset price is currently trading below the 100 and above 50 Daily Moving Average. If the QQQ stock price crosses above 100 DMA then a strong upside trend in price can be seen.
Conclusion
Invesco QQQ fund has given great returns to their investors in past and can do the same in future. QQQ stock price is currently in a weak upside trend but can move to a new high in the future.
Disclaimer
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Source: https://www.thecoinrepublic.com/2022/12/09/invesco-qqq-trust-stock-price-analysis-is-qqq-stock-price-aiming-for-400/