QUALCOMM Short Trade Hits TP1 – More Bearish Targets PossibleTechnical Analysis: QUALCOMM – 15-Minute Timeframe (Short Trade)
QUALCOMM has reached TP1 (171.92) in the short trade, with the remaining targets still in play. The initial downtrend is confirmed, and we are closely watching for the next targets to be hit.
Key Levels
Entry: 173.07 – The short position was initiated following clear bearish signals.
Stop-Loss (SL): 173.99 – Risk management placed above the entry point to limit potential losses.
Take Profit 1 (TP1): 171.92 – First target hit, confirming the downtrend's strength.
Take Profit 2 (TP2): 170.08 – The next target is set as momentum continues downward.
Take Profit 3 (TP3): 168.23 – Further price movement could test this level soon.
Take Profit 4 (TP4): 167.09 – The final target for this short trade.
Trend Analysis
The price has broken below the Risological Dotted trendline, showing sustained bearish momentum. The price action confirms the downtrend, with TP1 already achieved, and lower targets still within reach.
QUALCOMM has started its downward movement by hitting TP1. We are now observing further bearish pressure to meet the next targets. Risk management remains crucial with the stop-loss in place.
