The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was down 0.08% in Wednesday’s pre-market trading as investors continue to monitor updates on any potential truce between the U.S. and Iran.
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New trading tool for QQQ bullsMeanwhile, the QQQ ETF gained 1.82% on hopes of a resolution of the U.S.-Iran conflict. Oil prices fell on the possibility of tensions easing in the Middle East.
Overall, the QQQ ETF has risen 6.83% over the past five days and is up about 35% 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 $742.36 for the QQQ ETF implies an upside potential of 18.1%.
Currently, QQQ’s five holdings with the highest upside potential are:
Currently, QQQ’s top holdings with the highest downside potential are:
- Intel (INTC)
- Seagate Technology (STX)
- Western Digital (WDC)
- Marvell Technology (MRVL)
- CSX Corporation (CSX)
Revealingly, QQQ ETF’s Smart Score is eight, implying that this ETF has the ability to outperform the broader market over the long term.