QCOM has been doing well fundamentally with its sales growth more than 30% quarter-over-quarter.
Technically it's on a clear up-trend and just recently had a nice pull-back.
Looking at the price-action on the weekly, we can see that it just made a double bottom and is now looking to break.
What makes this more interesting is that the pull-back used the 10-EMA on the monthly time-frame as support and volume is kicking in.
Thoughts:
* QCOM made a double bottom and is now looking to break
* The double bottom will be confirmed if the price breaks and closes above 144.10.
* The measured objective of the pattern would be close to its all-time-highs.
Trade idea:
* Wait for a confirmation of the pattern i.e. wait for a close above $144.10
Technically it's on a clear up-trend and just recently had a nice pull-back.
Looking at the price-action on the weekly, we can see that it just made a double bottom and is now looking to break.
What makes this more interesting is that the pull-back used the 10-EMA on the monthly time-frame as support and volume is kicking in.
Thoughts:
* QCOM made a double bottom and is now looking to break
* The double bottom will be confirmed if the price breaks and closes above 144.10.
* The measured objective of the pattern would be close to its all-time-highs.
Trade idea:
* Wait for a confirmation of the pattern i.e. wait for a close above $144.10
Nota
Broke above and retested 144.10. Now would be a nice time to get in.
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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.