The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was down 0.36% in Thursday’s pre-market trading as investors closely monitor updates on the U.S.-Iran conflict. The two countries agreed to a ceasefire. However, Iran accused the U.S. of violating the agreement amid Israel’s continued attacks on Lebanon and the denial of the right to enrich uranium.
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Forget margin or options. Here's how the pros trade QQQThe QQQ ETF gained 2.97% on Wednesday on news of the ceasefire, with oil prices falling below $100.
Overall, the QQQ ETF has risen 7.02% over the past five days and is up 26.3% 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 $760.11 for the QQQ ETF implies an upside potential of 25.41%.
Currently, QQQ’s five holdings with the highest upside potential are:
- Booking Holdings (BKNG)
- Atlassian Corporation (TEAM)
- Strategy (MSTR)
- Axon Enterprise (AXON)
- Zscaler (ZS)
Currently, QQQ’s top holdings with the highest 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 over the long term.