Qualcomm to drop by 15% ? Possibly even 25-30% within the year?
Qualcomm overall is a solid company and usually performs bullish in the longer holding time frame..
BUT....
I have seem to come across some shorter to mid time frame bearishness.
First I' noticed QCOM forming a Head & Shoulders with weak looking shoulders that decline from the L.shoulder over to the R.shoulder. A gap also occurred from the L.shoulder over to the R.Shoulder within the same price region showing weakness here.
On Balance Volume shows that there are low exchanges of hands and could be signaling weak buying power and a sell off to come.
OBV to price also shows a Bearish Divergence.
Last but not least, we seem to be in the process of forming a descending triangle (iHVF) with flat bottoms and that is low slung.
Only sign of slight bullishness would be in the weekly time frame in which QCMON is bouncing within a channel that we seem to be within the bottom region of. QCOM has exited this channel before but usually tends to be extremely volatile when done so. Could this be a sign of another series of hyper volatility and a hint of the temporary health of the overall market?
QCMON to see around $48 soon and possibly even mid $30's within the year
BUT....
I have seem to come across some shorter to mid time frame bearishness.
First I' noticed QCOM forming a Head & Shoulders with weak looking shoulders that decline from the L.shoulder over to the R.shoulder. A gap also occurred from the L.shoulder over to the R.Shoulder within the same price region showing weakness here.
On Balance Volume shows that there are low exchanges of hands and could be signaling weak buying power and a sell off to come.
OBV to price also shows a Bearish Divergence.
Last but not least, we seem to be in the process of forming a descending triangle (iHVF) with flat bottoms and that is low slung.
Only sign of slight bullishness would be in the weekly time frame in which QCMON is bouncing within a channel that we seem to be within the bottom region of. QCOM has exited this channel before but usually tends to be extremely volatile when done so. Could this be a sign of another series of hyper volatility and a hint of the temporary health of the overall market?
QCMON to see around $48 soon and possibly even mid $30's within the year
Trade closed: target reached:
Target reached and trade closed for a nice profit before a massive bull run has occurred in this trade