The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was up 0.18% in Thursday’s pre-market trading, as of writing, driven by optimism about the meeting between U.S. President Donald Trump and Chinese President Xi Jinping. Also, shares of networking giant Cisco (CSCO) rallied on strong results and outlook.
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New trading tool for QQQ bullsOn Wednesday, QQQ closed 1.06% higher, driven by strength in chip stocks.
Overall, the QQQ ETF has gained 5.26% in the past five trading sessions and 38% year-to-date.
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 $792.09 for the QQQ ETF implies an upside potential of about 11%.
Currently, QQQ’s five holdings with the highest upside potential are:
- Strategy (MSTR)
- Charter Communications (CHTR)
- Axon Enterprise (AXON)
- Insmed (INSM)
- Thomson Reuters (TRI)
Currently, QQQ’s top holdings with the highest downside potential are:
- Intel (INTC)
- Micron Technology (MU)
- Marvell Technology (MRVL)
- Qualcomm (QCOM)
- CrowdStrike Holdings (CRWD)
Revealingly, the QQQ ETF’s Smart Score is seven, implying that this ETF is expected to perform in line with the broader market.