Qualcomm to drop by 15% ? Possibly even 25-30% within the year?
Updated
Qualcomm overall is a solid company and usually performs bullish in the longer holding time frame..
BUT....
I have seem to come across some shorter to mid time frame bearishness.
First I' noticed QCOM forming a Head & Shoulders with weak looking shoulders that decline from the L.shoulder over to the R.shoulder. A gap also occurred from the L.shoulder over to the R.Shoulder within the same price region showing weakness here.
On Balance Volume [OBV] shows that there are low exchanges of hands and could be signaling weak buying power and a sell off to come.
OBV to price also shows a Bearish Divergence.
Last but not least, we seem to be in the process of forming a descending triangle (iHVF) with flat bottoms and that is low slung.
Only sign of slight bullishness would be in the weekly time frame in which QCMON is bouncing within a channel that we seem to be within the bottom region of. QCOM has exited this channel before but usually tends to be extremely volatile when done so. Could this be a sign of another series of hyper volatility and a hint of the temporary health of the overall market?
QCMON to see around $48 soon and possibly even mid $30's within the year
BUT....
I have seem to come across some shorter to mid time frame bearishness.
First I' noticed QCOM forming a Head & Shoulders with weak looking shoulders that decline from the L.shoulder over to the R.shoulder. A gap also occurred from the L.shoulder over to the R.Shoulder within the same price region showing weakness here.
On Balance Volume [OBV] shows that there are low exchanges of hands and could be signaling weak buying power and a sell off to come.
OBV to price also shows a Bearish Divergence.
Last but not least, we seem to be in the process of forming a descending triangle (iHVF) with flat bottoms and that is low slung.
Only sign of slight bullishness would be in the weekly time frame in which QCMON is bouncing within a channel that we seem to be within the bottom region of. QCOM has exited this channel before but usually tends to be extremely volatile when done so. Could this be a sign of another series of hyper volatility and a hint of the temporary health of the overall market?
QCMON to see around $48 soon and possibly even mid $30's within the year
Trade closed: target reached
Target reached and trade closed for a nice profit before a massive bull run has occurred in this trade
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