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TradeVulture.com
Feb 10, 2014 4:17 AM

QCOM: Bullish MoMo Fading Short

QUALCOMM IncorporatedNASDAQ

Description

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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