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lauralea
Oct 18, 2023 4:20 PM

SYMMETRICAL TRIANGLE 

QUALCOMM IncorporatedNASDAQ

Description

Earnings estimated to be on 11-1.

Symmetrical Triangles are neutral until broken.

Support level below triangle with 3 touches. The more touches a support or resistance level has, the stronger the level becomes.

No recommendation

Comment

Tight triangle noted. Price fills the 2 trendlines. Tight triangles perform better than loose triangles.
Comments
mjstach1
Well that's an interesting outcome...as confusing as the chart finding both upper and lower limits and then it traded that way too...first testing the downside and then a move up with momentum...and now what...testing the recent highs?
mjstach1
Hi Laura...thank you. Sooooo, perfect example of confusion...4 touches on the top line and 3 on the bottom...what makes the bottom touches more significant, or are they?
lauralea
@mjstach1, The more touches, then the stronger the level. Tight triangle as price fills it fairly well. QCOM is one of my Faves. They announced some AI BS which is possibly keeping this afloat. Not sure I would hold my breath though )o:
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