QCOM has a bearish chart in near term. A candidate to short .QCOM could not break the downtrend at 53.59 and started moving down . It tried to pull from 50.78 but again was a lower high and fell below 50.66 on 3/24. This is an indication that the downtrend is here to stay for a while and can be short.
The weekly chart shows confims downtrend and also in overbought zone for now.
If it closes below 50.18, it is likely to touch 48.18 before it pulls back. if it does not sustain that it can fall to 47.43
