The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was down 0.02% in Wednesday’s pre-market trading as investors digested the latest developments related to the U.S.-Iran conflict and awaited February’s Consumer Price Index (CPI) data.
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Forget margin or options. Here's how the pros trade QQQOn Tuesday, the QQQ ETF closed almost flat amid geopolitical tensions. Investors have been concerned about the surge in oil prices amid supply disruptions due to the U.S.-Iran conflict. However, reports that the International Energy Agency (IEA) would announce a significant release of emergency oil reserves today have eased concerns.
Overall, the QQQ ETF has risen 0.69% over the past five days and is up about 29% over the past year.
QQQ’s Key Holdings with Highest Upside/Downside Potential
According to TipRanks’ unique ETF analyst consensus, which is based on a weighted average of analyst ratings on its holdings, QQQ is a Strong Buy. The Street’s average price target of $754.04 for the QQQ ETF implies an upside potential of about 24.1%.
Currently, QQQ’s five holdings with the highest upside potential are:
Meanwhile, its top holdings with the greatest downside potential are:
Revealingly, QQQ ETF’s Smart Score is seven, implying that this ETF is expected to perform in line with the broader market.