Day Trading Call: Buy the Dip in QQQ

6 days ago

Speaker

"Now, if you look at a monthly chart of QQQ, and I'm just going over this is what you should be doing. The dips are getting bought on a five-minute chart. Whether it's the light shaded area, which is after hours, or during the day, the dips are being bought. And where are we today? Well, if you bought in the after hours on Thursday, way down here, $591, you're up again. QQQ looks like it's a buy the dip. And you can use some of these other indicators to find out when you should buy. The MACD was way down here at 4:15 on October 17th. The RSI went all the way down to 17 overbought. If you're day trading this, boom, buy it. Buy it again."

The speaker discusses QQQ with a focus on technical indicators and intraday chart patterns. He notes that buying on dips—especially after hours at around $591—could be profitable as technical signals like the MACD and RSI support a dip-buying strategy for day traders.

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