Qualcomm Inc, QCOM - Daily
Sell stop breaking under $79, targeting $76, stop $80.3
I'm suspicious of Qualcomm up here as it has tracked along this easily identifiable trend channel for a long, long time now. Making money is never EASY in stocks and when it looks easy, then it is about to get VERY DIFFICULT in short order. That is what my experience has taught...
The weekly shows bullish momo in lower time frames being absorbed. This is what we call distribution, and would indicate a future bearish retest of the leg start. If price is able to close above 76, then accumulation and a move higher could be warranted.
The future starts now with the IoE Internet of Everything…this company will control the modules that are in the things just like CDMA blew it up in the 90s, get ready for what is ahead, if played right it could be a $400 to $800 stock or more
Earlier, Goldman gave Qualcomm a "Buy" rating. Several other analysts also feel the same way. I opened up the chart and immediately saw this perfect ascending triangle. So far, it looks like a no-brainer.
This morning, leading digital telecommunications manufacturer Qualcomm Inc (NASDAQ:QCOM) is coming under some selling pressure. The stock is trading lower by 0.63 cents to $68.94 a share. Day traders can watch for intra-day support around the $68.51, and $68.00 levels. Both support levels can give the stock a small bounce during today's trading session.
Nicholas...
MACD is suggesting buyers are exhausted. We just got a trend break here with a Bearish Harmonic Pattern.
Great Risk to Reward. Could turn into a longer term short.
This stock also has currently a Ascending Channel pattern and RSI is currently in a bullish mode. This company has strong potential to increase their growth due to the fact that they make parts for smart phones. finance.yahoo.com finance.yahoo.com
Previous sell signal confirmed by the divergence was in line with my expectations for drop under the 200 day moving average.
Currently QCOM stock shows the same pattern. The target price is around $60.
Best
CapitalHubs.com
Daily and Hourly charts setting up for a short position contingent on no major market moving news. I'm fully expecting the FED to announce no QE3 this month, to confirm the bearish swing reversal here.
In post published three months ago named "Qualcomm seasonal trading" I have pointed out the repeating seasonal pattern of this stock. Since then the share fell from $62 at the end of April to the bottom of $52.9 in mid July. Probably the correction has not finished yet however there are signs that we are approaching the end of summer bear market as second half of...
