### What I Did
I recently took a strategic plunge into the Invesco NASDAQ 100 ETF (QQQM). Recognizing the current market trends and the attractive pricing, I initiated my buying spree whenever QQQM fell below $190. With some profits already realized from previous trades and a $5 voucher courtesy of Tiger, I decided it was the perfect time to increase my holdings in this ETF.
### Why I Did That
My decision to buy QQQM under $190 stems from a combination of market analysis and personal conviction. Firstly, QQQM tracks the NASDAQ-100 Index, which includes 100 of the largest non-financial companies listed on the NASDAQ stock market. These are high-growth, innovative companies that are leaders in their respective fields. Secondly, technical analysis shows that $190 is a significant support level for QQQM. Historically, whenever QQQM drops to this level, it tends to bounce back, making it a strategic buy zone. Additionally, the current market conditions, marked by volatility and short-term corrections, present a lucrative opportunity to buy into QQQM at a discount.
### How I Did It
To capitalize on this opportunity, I closely monitored the price movements of QQQM. Whenever it approached the $190 support level, I placed limit orders to ensure I bought at my target price or lower. This methodical approach allowed me to build my position gradually while managing risk effectively. My strategy also involved using the $5 voucher from Tiger, which helped offset some costs and enhance my returns. By analyzing recent support and resistance levels, I identified $190 as a key buying point and observed that resistance often forms around the $200 mark. By keeping these technical factors in mind, I aim to optimize my entry points and maximize potential gains. This disciplined strategy, combined with ongoing market analysis, will guide my future investments in QQQM.
Side | Price | Realized P&L |
---|---|---|
Buy Open | 189.39 | -- Closed |
Modify on 2024-07-26 15:33
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