After a stellar earnings report a week or two ago, I am extending my Qualcomm trend line and looking to buy the dip to the trend line around $79 per share tomorrow.
Note
QCOM didn't hit my buy target despite some bad news about the South Korea anti-trust suit today. I went ahead and entered in the 80-81 range. QCOM goes ex-dividend today (0.77% quarterly yield) and looks poised for a post-dividend bounce.Note
So far, so good. Qualcomm gained 1.5% today and looks to be in recovery mode.Note
I'd take profit here. Maybe QCOM will move higher, but IMO another leg higher isn't currently justified given the earnings outlook.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.