Technical analysis by bbqgio about Symbol QQQX: Sell recommendation (11/7/2025)

QQQ on the 1D chart has been trending higher for months, but the latest session printed a clean Bearish Engulfing with a ~1.86% drop and a break below the 20-day (around 614.50). That rejection left fresh supply near the recent high at 635 and flipped 610–615 into near-term resistance. Momentum has shifted short-term to the downside even as the broader structure remains bullish. Primary path: a corrective leg toward the 590–595 demand zone. That area aligns with prior polarity and the 60-day moving average, with the lower Bollinger Band near 588 adding confluence. A sustained break below 610 would likely unlock that move, where buyers can attempt to stabilize price and rebuild trend structure. Alternative: if buyers reclaim 622 on a daily close, the bearish signal is invalidated and the door reopens for a retest of 635. Conversely, if 590 fails decisively, the correction can extend toward the 120-day region around 570–575, signaling a deeper, medium-term reset. This is a study, not financial advice. Manage risk and invalidations🎁 Please hit the like button and 🎁 Leave a comment to support my work!