QCOM breaking down of an ascending wedge, retesting the previous support, was rejected pretty handedly.
I would expect it to bounce off the .382, and get rejected again, forming a head and shoulder, inside of a handle, to complete the cup and the handle in higher time frames.
I would expect it to bounce off the .382, and get rejected again, forming a head and shoulder, inside of a handle, to complete the cup and the handle in higher time frames.
Trade active
The wedge overshot the original timing, but the same general idea remains. The chart is following the curvature of the drawn curve, implying a big move down, fast.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.