QCOM (QUALCOMM Incorporated) BUY TF M30 TP = 172.60On the M30 chart the trend started on Oct.8. (linear regression channel).
There is a high probability of profit taking. Possible take profit level is 172.60
This level, which I have outlined above, is certainly not a “finish” level. But it is the level that has the “highest percentage of hits on target.”
Using a trailing stop is also a good idea!
Please leave your feedback, your opinion. I am very interested in it. Thank you!
Good luck!
Regards, WeBelievelnTrading
Qcomstock
Qualcomm Shares Rises 4.24% On NVIDIA's Earnings BeatQualcomm shares ( NASDAQ:QCOM ) surged by 4.31% following NVIDIA's impressive earnings report, boosting investor confidence and causing a ripple effect on $QCOM. The semiconductor industry experienced a surge as investors reacted positively to NVIDIA's robust financial performance. NVIDIA's earnings report, which beat expectations with adjusted earnings per share of $6.12 and revenue of $26 billion exceeding the estimated $24.6 billion, acted as a significant catalyst for semiconductor stocks.
Qualcomm ( NASDAQ:QCOM ), being a key player in the semiconductor market, benefited from the positive sentiment generated by NVIDIA's stellar results. The market's response to NVIDIA's earnings highlights the strength and growth potential of the semiconductor sector. As NVIDIA continues to demonstrate strong performance, investors should be optimistic about the prospects for semiconductor companies like Qualcomm ( NASDAQ:QCOM ). Factors such as technological advancements and market demand will continue to influence Qualcomm's performance and the semiconductor sector as a whole.
Technical Outlook
Technical indicators like the Relative Strength Index (RSI) which sits at 81.25 shows ( NASDAQ:QCOM ) stock is in an overbought region meaning an impending trend reversal is on the horizon.
Qualcomm Surges on AI-Powered Smartphone Market RevivalIn a remarkable turn of events, Qualcomm ( NASDAQ:QCOM ), the global leader in smartphone chip manufacturing, has defied expectations with a bullish forecast for the fiscal third quarter, driven by a resurgence in the smartphone market fueled by artificial intelligence innovations.
Riding the AI Wave:
Qualcomm's optimistic outlook stems from the accelerated adoption of smartphones equipped with advanced AI features, breathing new life into the industry. As consumers seek enhanced functionalities and seamless user experiences, Qualcomm ( NASDAQ:QCOM ) stands at the forefront, leveraging AI technology to redefine the smartphone landscape.
Diversification Sparks Growth:
Beyond smartphones, Qualcomm's expansion into new markets such as automotive and wearable devices has bolstered its revenue streams, surpassing Wall Street expectations in the second quarter. The company's foray into selling chips for cars and headphones has proven particularly fruitful, highlighting its agility and adaptability in responding to evolving market trends.
Competitive Landscape:
Despite facing stiff competition from the likes of China's Huawei and Taiwanese rival MediaTek, Qualcomm continues to dominate the smartphone chip market, counting industry giants Apple and Samsung among its loyal clientele. While competitors vie for market share, Qualcomm's strategic positioning and technological prowess set it apart, ensuring sustained growth and resilience amidst challenges.
Navigating Regulatory Hurdles:
Amidst regulatory complexities and geopolitical tensions, Qualcomm remains steadfast in its commitment to compliance and ethical business practices. The company's ongoing negotiations with Huawei underscore its proactive approach to addressing legal and contractual obligations, mitigating potential risks and uncertainties.
AI-Powered Innovation:
Qualcomm's strategic focus on consumer-centric AI applications is poised to revolutionize the way we interact with our devices. With plans to release chips designed to power laptops and enable AI chatbots directly on devices, Qualcomm ( NASDAQ:QCOM ) is poised to capitalize on evolving consumer preferences and drive the next wave of technological innovation.
Financial Outlook:
With a forecast for third-quarter sales and adjusted profit surpassing analyst estimates, Qualcomm's financial resilience and growth trajectory remain robust. Bolstered by strong performance in both its chip and patent-licensing segments, Qualcomm is well-positioned to capitalize on emerging opportunities and deliver sustained value to its shareholders.
Looking Ahead:
As Qualcomm ( NASDAQ:QCOM ) charts its course forward, the company's unwavering focus on innovation, diversification, and strategic partnerships will continue to fuel its ascent in the dynamic technology landscape. With AI as its guiding force, Qualcomm ( NASDAQ:QCOM ) is poised to shape the future of mobile computing and drive transformative change across industries.
QCOM Continuation Play [PUTS]Here is a strong down trend proceeding a channel break to the downside. An Inside Bar/3 Bar Play has formed on the 4h at close giving an opportunity for entry below the low of the inside candle. Can expect (but not guarantee) another leg down to follow up the current consolidation to possible test and or fill the gap below.
QCOM Prediction using Fixed Range Vol w/ S&RSo - I've been playing a new tool (to me it is), the 'Fixed Range Vol' I only recently realized is available in TradingView's arsenal.
I'm not exactly sure if I am using the correct way that it's intended to be used but so far, it's been a pretty reliable tool for my chart analysis attempts.
1.) I start by selecting the HH's and LL's on a higher time chart, let's say for example either the D or 4H and then again on a smaller time frame, let's say 4H or 1H and then again on the same or similar time frame as the last except this time I'd select points that are relevant to the symbols last noticeable trend movement.
2.) Then I would correlate the outcomes from those Fixed Range results withthe Supply & Demand areas generated from the indicator 'FluedTrades-SMC Lite' .
More times than not - there is a fairly clear pattern or indication as to what the chart's next movements might be. So far - I've actually been quite surprised with the number of times this unusual method I somehow started using has been correct.
Or is this a commonly used strategy that I just don't/didn't know of?
In a sea of red there still some bulls standing Just talking walk down wall street AKA the HeatMap looking at a sea of red I notice a small pace of green as i zoomed in long behold it was QCOM as i started my top down analysis i seen it was breaking its down trend as i made my way to the daily chart i stumbled upon a Cup & Handle at the neckline looking ready to take off any moment with a measured move of 17 points if it fully play out so that's a very juicy target for trades to pass up !!!!
Qualcomm: Things are looking bullish!Qualcomm
Short Term
We look to Buy at 143.04 (stop at 138.51)
Preferred trade is to buy on dips. Buying continued from the 38.2% pullback level of 141.98. 20 1day EMA is at 143.50. Posted a Bullish Hammer Bottom on the Daily chart. We look for gains to be extended today.
Our profit targets will be 156.56 and 159.40
Resistance: 156.60 / 160.00 / 190.00
Support: 141.00 / 120.00 / 100.00
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QCOM strong supportIf you haven`t shorted QCOM on the exposure to China article here:
Then you should know that is QCOM is sitting on a strong support line, trading at a 38% forward P/E ratio discount versus the 5 year average!
Wells Fargo has an $150 price target for QCOM!
Looking forward to read your opinion about it.