Qualcomm has struggled all year, and some traders may see further downside risk in the chip stock.
The first pattern on today’s chart is the March high of $161.82. Prices have remained below that level since — even as the broader market climbed to new record highs. That may reflect a lack of buying interest.
Second is the pair of downward gaps after the last two earnings reports. Those may reflect weakening sentiment.
Third, QCOM tried to rebound after the second release but stalled at its July 30 close (immediately before earnings). Will it become a lower high?
Next, the 100-day simple moving average (SMA) is below the 200-day SMA. That may be consistent with longer-term weakness.
Finally, stochastics have been rebounding and are near levels where the oscillator has recently peaked. Traders may watch it for signs of prices turning lower.
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Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at https://www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on https://www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
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TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit https://www.TradeStation.com/DisclosureTSCompanies for further important information explaining what this means.
The first pattern on today’s chart is the March high of $161.82. Prices have remained below that level since — even as the broader market climbed to new record highs. That may reflect a lack of buying interest.
Second is the pair of downward gaps after the last two earnings reports. Those may reflect weakening sentiment.
Third, QCOM tried to rebound after the second release but stalled at its July 30 close (immediately before earnings). Will it become a lower high?
Next, the 100-day simple moving average (SMA) is below the 200-day SMA. That may be consistent with longer-term weakness.
Finally, stochastics have been rebounding and are near levels where the oscillator has recently peaked. Traders may watch it for signs of prices turning lower.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. If you're born to trade, we could be for you. See our Overview for more.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at https://www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on https://www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit https://www.TradeStation.com/DisclosureTSCompanies for further important information explaining what this means.
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.