TradeVulture.com

QCOM: Bullish MoMo Fading

Short
BATS:QCOM   QUALCOMM Incorporated
1
The weekly shows bullish momo in lower time frames being absorbed. This is what we call distribution, and would indicate a future bearish retest of the leg start. If price is able to close above 76, then accumulation and a move higher could be warranted.
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