QCOM trade ideas
Only Short QUALCOMM, Inc. If It Breaks This Line, Target $56This trade is simple. When the stock price of QUALCOMM, Inc. (NASDAQ:QCOM) breaks below the trend line sloping up (seen in the stock chart below), short it. QUALCOMM will head to the $56 level target gap fill. Classic stock chart setup here for experienced investors and traders. Simple and clean, trades like this are great.
QUALCOMM with bullish Flag Qualcomm is caught in its longtermdowntrend. Now the stock has reached an important resistance Level at round about 53$. Here is based the midterm downtrends upper edge and the important SMA 200.
In march, Qualcomm tried to beat this Level - a consolidation followed and stopped near the fibo 38,2.
From then on, a bullish flag appeared.
Now 2 different Szenarios can be traded:
- Short again, hoping that the resistance would hold again. With this opinion, an entry at the actual Level could be intzeresting. Stopp should be installed a tick above the sma 200. The TPs of this short coan be: 49,7 (flags bottom edge) / 49 (38,2 fibo) / 47,75 (0,5 fibo) / 44,4 longterm uptrends bottom edge) / 42,2 (last significant low) / 36 (worst case - midterm downtrends bottom edge)
- Breakout Chance : Long entry above the sma 200 with TP 58/59$.
i have illustrated the different views in the chart