Technical analysis by LevelUpTools about Symbol QQQX: Buy recommendation (9/1/2025)

QQQ has been respecting a series of parallel channels since March of 2023, forming a classic stair-step bullish pattern. Each channel ended with a break below the 10-week SMA. 🔸 Strong Trend Structure ▪ The chart shows five clear ascending parallel channels, each followed by a corrective/downward or sideways phase. ▪ This stair-step structure is characteristic of bullish price action, followed by consolidations, which often signals a healthy uptrend. 🔸 Channel Integrity ▪ Each channel respects its upper and lower bounds well, showing consistent buying pressure and trend continuation. ▪ There are multiple touch points for each upper and lower band, showing price support and resistance levels. ▪ The last channel is slightly narrower than the previous ones, which could imply momentum compression before either: • A breakout (continuation upward). • A breakdown (channel failure and pullback). 🔸 Risk Zone ▪ If QQQ breaks below the channel support and the 10-week moving average, the next likely support zone is around $540–$550. 🔸 Key Levels ▪ Upside Target: If QQQ breaks above the channel, we could see $600+ based on the measured move of prior legs. ▪ Watch volume for confirmation on any breakout attempt. ▪ Support Zone: If the channel fails, $540–$550 is the first major demand area aligned with prior consolidation. 🔸 Trade Ideas ▪ Bullish Bias: Breakout with strong volume, stop below channel support. ▪ Bearish Bias: Breakdown on confirmed move below channel and moving average. Note: This is not investment advice. Do your own research before making any trade decisions. Always conduct your own due diligence before investing. 💡 What do you think – continuation or correction? Drop your thoughts in the comments!