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May 23, 2022 12:46 PM

QCOM strong support Long

QUALCOMM IncorporatedNASDAQ

Description

If you haven`t shorted QCOM on the exposure to China article here:


Then you should know that is QCOM is sitting on a strong support line, trading at a 38% forward P/E ratio discount versus the 5 year average!

Wells Fargo has an $150 price target for QCOM!

Looking forward to read your opinion about it.
Comments
cicatrace
Very bullish on Qualcomm, didn't even sell when it was at 190.

Obviously in hindsight that was a mistake but my average cost for my long term spot position is 125 so I don't really care even if it dips to 100$. Qualcomm showed strength 'only' dipping around 30% during this whole correction. It's individual stock held better than some indices. Also it's still way above the dot com bubble 100$ previous ATH which is a pretty bullish technical setup.

Besides, wireless/5G is only getting started. Qualcomm isn't going anywhere.
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