QCOM is an established downward trend with several overbought or reversing indicators from Stochastic, CCI, bollinger bands, long term support, Fibonacci, williams percentage, at cloud resistance, top of downward channel. We are nearing a wedge formation to break out or break down, I'm guessing the latter will occur. No position yet
Comment:
I did not take a position as I was waiting to see if it broke out of the downtrend channel and it has. I will keep an eye on this one for other indicators to start a position.