QCOM Short from 77.37
Updated
Details will be updated later...
Note
As promised here are some details on why we went short. • Rising wedge/flag like pattern that ran into a downtrend & horizontal
resistance
• The 160-day moving average has proven to be significant in the past
• Breaking down through the -10% YTD level
• Extremely Low SIF – 1.03%
• Failed right at the 80-strike call level, which has large open interest that
remains open through June
• VS: 77
• Options are fairly cheap – Equity VIX %Range in the 18th percentile
Note
Really close to our stop and we need a down day tomorrow.Trade closed manually
Apologies stop was reached on 6/2 - was new to posting at the time...
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