Technical analysis by pakoumal about Symbol QQQX on 12/5/2025

When QQQ tops on the daily timeframe, you typically see upper-band overextension, multiple rejection wicks, bearish engulfing candles, a clear lower high formation, EMA breakdown & shrinking momentum + rising volatility, but the chart shows the opposite Price bounced cleanly off the mid-band & is riding the upper half of the Bollinger channel This is continuation behavior - not reversal structure The daily trend is intact and healthy No close below the mid-Bollinger (20d MA) No sharp mean reversion No violation of October low structure Higher lows since the pivot around $589 This is an uptrend, with no technical evidence of topping $637 is the ATH QQQ rarely tops on the first retest It either i) consolidates under resistance & then breaks, or ii) fakes a small dip & then breaks The current setup shows controlled expansion, trending conditions, no volatility spike, smooth adherence to mid-band support & higher highs forming inside the bands This is bullish The last candle is green, closing near the upper band with solid volume & QQQ closed above $625 - a higher high vs last week, which suggests continuation, not distribution 1. Breakout attempt toward $630-$635 60% Trend + position in band favors upside 2. Pullback to $620-$615 before breaking higher 30% Standard retest of mid-band structure 3. Deep reversal toward $580 10% No topping pattern; requires macro shock