Does PowerShares QQQ Trust, Series 1 (ETF) (QQQ) Have Any Gas After Forming This Bullish Wedge Up?

November 15, 2017 - By Nellie Frank

The stock of PowerShares QQQ Trust, Series 1 (ETF) (QQQ) formed an up wedge with $160.07 target or 5.00 % above today’s $152.45 share price. The 7 months wedge indicates low risk for the $58.65B company. If the $160.07 price target is reached, the company will be worth $2.93 billion more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

About 5.36 million shares traded. PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ) has risen 30.89% since November 15, 2016 and is uptrending. It has outperformed by 14.19% the S&P500.

More important recent PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ) news were published by: Etfdailynews.com which released: “Technology Bulls Are Flooding Back Into The QQQ” on November 13, 2017, also Etfdailynews.com published article titled: “Tech Stocks: 2017 Looks Nothing Like 2000 (QQQ)”, Thestreet.com published: “Is the Stock Market Due for a Sizable Correction Soon?” on November 10, 2017. More interesting news about PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ) was released by: Gurufocus.com and their article: “Jump Trading, LLC Buys PowerShares QQQ Trust Series 1, iShares MSCI EAFE, SPDR …” with publication date: November 15, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.