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Notes for Trading QQQ (Week of October 9):
Invesco QQQ Trust, Series 1
Notes for Trading QQQ (Week of October 9):
By TriumphOne
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Oct 8, 2023
2
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Oct 8, 2023
Closing Price (Oct 6): QQQ closed at 364.70
Support:
362.70
358.58 - 357.50
347.36 - 346.07
Resistance:
366.21
368.91 - 369.71
371.72 - 372.85
Support:
• Initial support at 362.70, aligning with the 38.2% retracement.
• Subsequent support zone spans from 358.58 to 357.50.
• Favorable risk-reward opportunity at the final support zone from 347.36 to 346.07—considered a potential turning point.
Resistance:
• Primary resistance stands at 366.21, corresponding to the 50% retracement.
• Noteworthy resistance zone between 368.91 and 369.71 (61.8% retracement).
• Identified cash-out zone at 371.72 to 372.85, coinciding with the downward trend line from 2023 highs.
Beyond Technical Analysis
Chart Patterns
Trend Analysis
TriumphOne
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