The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was up 1.00% in Wednesday’s pre-market trading on growing hopes of an end to the U.S.-Iran war. Late Tuesday, President Donald Trump told reporters at the White House that U.S. troops could withdraw from Iran in two to three weeks.
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New trading tool for QQQ bullsOn Tuesday, the QQQ ETF jumped about 3.4% as investors reacted positively to Trump’s comments on ending the war in Iran. According to the Wall Street Journal, Trump told his aides that he was willing to end military hostilities in the Middle East even if the Strait of Hormuz remained essentially shut.
Overall, the QQQ ETF has declined 2.17% over the past five days, but is up about 18.1% 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 $761.76 for the QQQ ETF implies an upside potential of 36.5%.
Currently, QQQ’s five holdings with the highest upside potential are:
Currently, QQQ’s top holding with the highest downside potential is:
- CSX Corporation (CSX)
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.