Invesco QQQ Trust’s stock price (QQQ) rose in the intraday levels, amid the dominance of the downward correctional wave in the short term, with negative pressure from the 50-day SMA, while trying to recoup some losses, as it also vents off oversold saturation in the RSI, while dominated by the main upward trend in the medium term.

Therefore we expect the stock to return lower, targeting the support of $416.80, provided it settles below the resistance of $435. 

Trend forecast: Likely Bearish