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American Stocks Analysis
May 22, 2024 7:42 AM

Invesco QQQ Trusts stock price inched up in the intraday levels and confirmed the breach of the pivotal resistance of $450.24, despite negative signals coming out of the RSI after reaching overbought levels, hindering gains, amid the dominance of the main upward trend in the medium term, while trading alongside the secondary short-term trend line, with positive support from the 50-day SMA.

Therefore we expect more gains for the stock, targeting the first resistance at $472.00, provided it settles above $450.24.

Trend forecast: Bullish

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