QCOM broke to the upside from a cup and never came back down to form a decent handle. QCOM also broke the neckline of an inverse H&S pattern at 138.88.

Price appears to be in a rectangle top which is a neutral horizontal channel until a trendline is broken in one direction or the other with a trend in that direction. Price often consolidates in neutral patterns like rectangles and triangles. The alligator appears to be consolidating as well.

A long entry would be a break of the upper trendline of 193.58 with an uptrend and vice versa for a break to the downside.

The targets listed are for the cup pattern, but one can guesstimate rectangle targets by the width of the rectangle then projecting it up or down.

Large gap under price and a cup that never grew a handle. I love this stock but id am watching for now.
No recommendation.
Comment: A break to the downside, or a break of 171.60 with a confirmed downtrend, one may consider short entry.

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