$ProShares UltraPro QQQ(TQQQ)$ NOV20 73C, still actionable.
Zone: $70.15 to $71.13
Invalidation: close under $68.21
Objectives: $75, then $79.27
The math: up 6.2% to the first objective and 12.2% to the second, against 3.4% risk on the invalidation, better than 3 to 1 to the second.
Think of this swing setup like a rubber band pulled too far in one week and now snapping back a little. TQQQ fell more than 13 percent in five sessions and closed Friday at $68.21, yet buyers lifted price near $70.64 and held the low at $70.13. The floor is close, and if the bounce holds there is room toward $75 first and $79.27 next, while a close under $68.21 would tell you it failed and you step aside.
Watching $72.44, the high. A close over it would show buyers pushing toward $75.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
