The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), jumped 3.5% in Wednesday’s pre-market trading on the news of a two-week ceasefire between the U.S. and Iran. Oil prices fell below $100, sending U.S. stock futures tied to all three major indices higher.
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Trade QQQ with leverageThe QQQ ETF was essentially flat on Tuesday as investors closely watched the developments in the Middle East.
Overall, the QQQ ETF has risen 4.01% over the past five days and is up 41.5% 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 29.1%.
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.