The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), fell 0.32% in Thursday’s pre-market trading as rising oil prices amid the escalating Iran war impacted investor sentiment.
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New trading tool for QQQ bullsOn Wednesday, the QQQ ETF closed slightly lower amid geopolitical tensions. Investors have been concerned about the surge in oil prices amid the supply disruption caused by Iran.
Overall, the QQQ ETF has risen 1.93% over the past five days and is up about 27.4% 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 $753.73 for the QQQ ETF implies an upside potential of about 24%.
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.