TQQQ, TIME TO BUY!
Hello fellow traders and investors, here's another trade idea.
TQQQ has been pulling on back to the bottom of the channel. It is offering a really nice setup right now and offers a 17.50% ROI.
Technicals:
The RSI is indicating that TQQQ is oversold
The VWAP is looking like an amazing support
The Macd is still indicating signs of a downtrend
When To Buy:
Now
When To Sell:
The take profit area
Fundamentals: TQQQ is a triple leveraged ETF of the Nasdaq 100 Index which means if the Nasdaq is up 1%, TQQQ will be up 3%. This ETF offers a lot of opportunity because of the leverage however if you are inexperienced I suggest you buy the Nasdaq ETF which will be less volatile. As we all know established tech companies have pulled on back because of earnings that they crushed so I'm expecting a steady recovery to its previous high. I recommend that you sell the second it gets to the previous high since it will be forming a triple top.
Rating: 80/100 because the tech sector is doing amazing I am pretty confident we will see a rally back to the previous high, the only problem with the tech sector is many of the company's valuations are very expensive.
I hope you enjoyed this quick analysis and many more to come.
If you enjoyed leave a like, follow and comment your thoughts.
If you have any questions send me a message and I'll gladly respond.
Thanks.
TQQQ has been pulling on back to the bottom of the channel. It is offering a really nice setup right now and offers a 17.50% ROI.
Technicals:
The RSI is indicating that TQQQ is oversold
The VWAP is looking like an amazing support
The Macd is still indicating signs of a downtrend
When To Buy:
Now
When To Sell:
The take profit area
Fundamentals: TQQQ is a triple leveraged ETF of the Nasdaq 100 Index which means if the Nasdaq is up 1%, TQQQ will be up 3%. This ETF offers a lot of opportunity because of the leverage however if you are inexperienced I suggest you buy the Nasdaq ETF which will be less volatile. As we all know established tech companies have pulled on back because of earnings that they crushed so I'm expecting a steady recovery to its previous high. I recommend that you sell the second it gets to the previous high since it will be forming a triple top.
Rating: 80/100 because the tech sector is doing amazing I am pretty confident we will see a rally back to the previous high, the only problem with the tech sector is many of the company's valuations are very expensive.
I hope you enjoyed this quick analysis and many more to come.
If you enjoyed leave a like, follow and comment your thoughts.
If you have any questions send me a message and I'll gladly respond.
Thanks.
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