For those unfamiliar with Qualcomm: leading company in the production of chipsets for the best Android smartphones in circulation. Also active in the development of 5G, artificial intelligence, modems, and wifi antennas.
I entered long on this company with undoubted growth potential, after the rather violent pullback in February, where the price...
QCOM looks pretty bearish according the TA. Stochastic bearish cross + super high overbought. Fractals seem bearish, MACD is about to bearish cross (2H MACD have already crossed) I would wait a bit more to the MACD to cross for more probabilities. So if everything will play correctly I believe that we’re going down to $133.14
$QCOM and the other semi names have taken a dip from their ATH but held up relatively well vs $QQQ recently. If the semis get a pop, they can see a continued move back to ATH. We like $QCOM here at the 200DMA support and previous resistance level of $130 for a long.
GSAT made recent news with a major partnership with QCOMM. We all know the importance QCOMM is for the modems in Apple's phones and with most likely the launch of the 5G phone this looks primed for huge gains this year.