ContraryTrader

Qcom channel trade

Long
NASDAQ:QCOM   QUALCOMM INC
Hit rock bottom after a earnings sell off followed by Nasdaq mini correction. bounce off the bottom of its channel today and I grab some contracts for 2 reasons.

1st - Over sold on all indicators RSI , MFI . and touch bottom of its. channel
2nd - President signed executive order for chip manufacturers (Sympathy play)

Yellow line is a downtrend .
Green lines are fibonacci targets , 100 day MA is also around 147$ area. will need strong volume to push through .

Double bottom at 151 which should help it closed that gap to 160

Comments

Very good, visit my profile too
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out