Hi, today we are going to talk about QCOM and in a Day Trade opportunity.
We observe a 15m chart, some important points such as supports and resistances (and levels of strength) to the Day Trade. The details are highlighted above.
Thank you for reading and leave your comments if you like.
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Hello,
This is a short I would like to share with all. This setup has many similarities to a short play on DISNEY.
+ There is still uncertainty regarding tariffs, and I don't think the leaders will resolve the issue within the time frame of this trade to interrupt it.
Rising wedges are my favorite :)
There are a couple potential harmonics playing out on Qualcomm. The green pattern pictured is a bullish Cypher, with an entry just below $70. If one were to play this conservatively, taking a stop loss at the lower A leg, there will still be a 3.29 reward/risk ratio if a stop is placed below X.
If the price rises to above $84, we'll be in the pattern completion...
QCOM has to move downward after break the pattern support, potential short term downtrend. The risk is retracement to the support before falling further
Entry: Red colored
-Possible divergence on Accumulation/Distribution
-Potential wedge on the daily. Expect possible up day tomorrow barring any trade news, then fall out next week.
I currently hold a long position. Do not take this as advice. This is for fun and to watch my skills or lack thereof. lol
Looking for yield and growth, i don't see anything better than QCOM right now. I'm seeing a 20 year phase 2 hyperwave, we could possibly be in phase 3 right now. Once the yellow overhead resistance is broken on a monthly candle i feel good about confirming the phase 3 line.
Two plays here:
1) Wait for breakout and retest of 72 level (200 MA) and aim for top of triangle
2) Short the Golden ratio / top of triangle. Trim at every dollar.
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications. The Company's segments include QCT (Qualcomm CDMA Technologies), QTL (Qualcomm Technology Licensing) and QSI (Qualcomm Strategic Initiatives). The Company also develops and commercializes a range of other technologies used in handsets and tablets that contribute to end user demand. The Company's products principally consist of integrated circuits (chips or chipsets) and system software used in mobile devices and in wireless networks.
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QCOM
