Qualcomm | QCOM | Short to Gap Fill
Qualcomm (
QCOM
). While I believe semiconductors will be the hot tickers again in the near future, Qualcomm needs to close the gap between $138.55 and $147.88. The upcoming Federal Reserve meeting and OpEx may serve as catalysts for this move. While it could rise to test resistance in the low- to mid-$160s to trap the bulls, I expect it to show more weakness ahead. Closing the gap below will be great for the bulls (like myself) in the long-run.
If it breaks resistance, thesis is broken.
QCOM
). While I believe semiconductors will be the hot tickers again in the near future, Qualcomm needs to close the gap between $138.55 and $147.88. The upcoming Federal Reserve meeting and OpEx may serve as catalysts for this move. While it could rise to test resistance in the low- to mid-$160s to trap the bulls, I expect it to show more weakness ahead. Closing the gap below will be great for the bulls (like myself) in the long-run. If it breaks resistance, thesis is broken.
Trade closed: target reached:
Filled the gap ✅