QQQ Brrr Setup
Updated
Triple combo for the triple Qs?
If it can get past 300 as the stochastic RSI suggests it is set to do (geez that weekly stochRSI is a lot more bullish than price action suggests...), then my X2 target is 332.66 - but could be realized somewhere in the green target box if we can clear this resistance immediately above.
From there Z could be realized in the red target box with point target 224.17. Notice you don't see my cycle wave I on the chart because I'm it occurred at the beginning of an expanding triangle that formed at the end of II and lasted until Covid low (wave I is at 170.95). The path I drew in is just illustrative and the wave V will be a lot higher than shown (wanted to illustrate that we will see a new ATH after IV is complete). I think we are about to see a massive short squeeze to take us to 330s from here.
Best,
Ricky Bobby
If it can get past 300 as the stochastic RSI suggests it is set to do (geez that weekly stochRSI is a lot more bullish than price action suggests...), then my X2 target is 332.66 - but could be realized somewhere in the green target box if we can clear this resistance immediately above.
From there Z could be realized in the red target box with point target 224.17. Notice you don't see my cycle wave I on the chart because I'm it occurred at the beginning of an expanding triangle that formed at the end of II and lasted until Covid low (wave I is at 170.95). The path I drew in is just illustrative and the wave V will be a lot higher than shown (wanted to illustrate that we will see a new ATH after IV is complete). I think we are about to see a massive short squeeze to take us to 330s from here.
Best,
Ricky Bobby
Note
Z could be moreso around 241 rather than 224. Will adjust that point target based on where/if X2 is realizedNote
Time to sellNote
see if it shows support hereNote
Expecting upward trajectory from here
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