QCOM trade ideas
QCOM SELLQCOM is an established downward trend with several overbought or reversing indicators from Stochastic, CCI, bollinger bands, long term support, Fibonacci, williams percentage, at cloud resistance, top of downward channel. We are nearing a wedge formation to break out or break down, I'm guessing the latter will occur. No position yet
QCOM SELLQCOM has been on my watch list and recently posted a chart but was not ready to initiate a position. QCOM is overbought on several chart times frames and various indicators on a bear market rally which lifted all stocks. I believe the rally will fade and ultimately print new lows. QCOM needs to break past the cloud and hold which I don't believe it will, this along with the VIX which is oversold we likely will reverse course. I will be looking for a gap up or spike to start a short position Monday.
QCOM - Long Trade Idea based on SupportQCOM has bounced from the strong support area, so it will possibly move up
Long | QCOMNASDAQ:QCOM
Possible Scenario: Long
Evidence: Price Action
TP1: 136$
TP2: 139$
This is my idea and could be wrong 100%. do your own DD.
Alpha opportunity from modem and processor chips monopolySummary
3 years into Covid and the risk of recession starts to outplay the chip shortage story of semiconductor industry. With its unmovable monopoly status in its own specialties, we think there is alpha for Qualcomm against its semiconductor peers . Dominance in modem chips and smartphone processors, the company recently declared another victory as Samsung KRX:005930 gave up the plan of using the self-developed processor Exynos2300 and continue with the latest snapdragon SM8550 for the coming new galaxy S23. Just a few days earlier, another source has also shown that Apple NASDAQ:AAPL might not be able to develop their own 5G modem chip on time, which means until 2023 100% of apple products will continue to rely on Qualcomm for connectivity modem chips (instead of the previous forecast at 20%). Although the smartphone market is expected to go into a bear market for 1-2 years, Qualcomm business should still be able to maintain growth by expanding market share within . Another trend worth note taking is the rapid adoption of electric vehicles that has speeded up the development of smart-automobiles, which as a result dramatically increased the chips consumption for the automobile industry. Qualcomm infrastructure and experience in internet-of-things (IOT) application is going to give them a natural edge to make a monopoly again in car chips , which can be the growth story in the coming 2-3 years.
Albeit claiming monopoly in modem and high-end mobile processor chips, there are plenty of challengers from Taiwan and China especially on the lower-end chips. Among the challengers, Mediatek from Taiwan is rapidly gaining market shares by producing chips for mid-to-low tier smartphones such as Oppo, Vivo and most models of Xiaomi. The price barrier from lower-end chip makers make it hard for Qualcomm to entering the broader IOT market especially for devices that do not require high efficiency and computational power.
Trading discussion
Given the mid to long term positive outlook of Qualcomm, we can trade QCOM from both a short term rebound angle, as well as long term investing perspective . The company is currently trading at PE of 13.5, which is lower than its semiconductor peers. Low PE stocks are more defensive against valuation squeeze under the current increasing interest rate environment. Here are QCOM’s peers current PE for reference:
NASDAQ:AVGO : 23.9
NASDAQ:NVDA : 40.7
NASDAQ:AMD : 28.7
NYSE:TSM : 17.4
Technically speaking, QCOM is still under a bearish trend with the 20 days moving average running below the 50 days, and both pointing downward. The 50 days moving average is still the biggest upside resistance for QCOM with two previous breakout attempts on Apr-28 and May-31 both failed. Currently QCOM is flirting around the 50 days moving average again and we shall closely monitor if the breakout will be successful or not.
Here are some technical levels one should pay attentions to:
Downside support
118.23: Jun-23 dropped to a 52-weeks low
96.17: Jan-17 2020 pre-covid high, which was broken on Jul-30 2020
Upside resistance
136.39: Jul-8 attempt of breaking 50 days moving average
151.2: Apr-28 attempt of breaking 50 days moving average (also the current 250 days level)
Note that short term traders and long term investors can see and use the above levels quite differently. For short term traders, the upside resistance can serve as entry when breakout for trend following, and breaking downside support to exit. On the contrary, long term investors might make use of the downside support as entry to accumulate long positions at lower cost to save up more cost buffer to ride a longer cycle.
QCOM - Above Previous ATH LineQCOM has formed a strong trend line in green and broken out from this line
Right now a horizontal line drawn against this can be placed at the prior ATH and it places the price nicely right above the Trend Line (white)
I have also drawn some weaker up trend lines in the dotted white lines
QCOM compressing Good morning Traders,
Today I am analyzing QCOM and far this will fall...The entire semiconductor sector has undergone MASSIVE compression over the last quarter with some names being down 40%+...I have been extremely bearish since Jan 22 on QCOM as well as others in the sector and have packed on some nice percentages the first half of the year...QCOM has had a nice break and retest of support as of yesterday and got tremendous pushback after the retest of the bottom side of the trendline...We've had a test and failure of the 50 RSI and now will retest the signal line...This stock has been in -MACD territory since Jan with no sign of convergence...I ultimately see this stock retesting the $118 to $121ish/price target 1 area and if a break of that price happens I believe we test the $110ish area as price target 2 with a $9 GAP down to $93ish area.
Now,
Do we fall that far over the last half of the year???? Who knows!!!! What we do know is that the P/E compression is happening across the sector and with liquidity being pulled out of the markets and all the macro crap happening in the world right now I see no bottom in sight for the time being.
Always remember
Be Smart
Be Patient
and
Be Kind
Have a great day everyone and feel free to leave your thoughts
QCOM - Loudest before the ImplosionQCOM Apes were caned again. Good New, buy it then Sell it.
QCOM remains a bloated, overvalued, overpriced comedy.
Apple ain't using your modems, Google... never.
Yer another Dino.
Wilma and Fred left the building.
____________________________________________________
QCOM Sub 100 will bring out the Baar for this Fanboi Cult.
Struggling at a Critical Support Level.I turned the support level blue versus green as it has been compromised a few times.
There is a weaker support level forming below it.
There is also what appears to be a descending triangle as the top trendline slopes down and the bottom one is flat. This pattern is neutral until a trendline is broken with a Confirmed trend in that direction.
I like this stock, but I have to admit, it is looking a bit iffy right now.
No recommendation.
Neutral until a trend is in place.
QCOM-Has Two Bullish Patterns!Patterns Identified -Falling Wedge & Bullish Engulfing patterns weekly chart!
QCOM filled a gap from November 4, 2021. I can clearly see that QCOM is going through price correction (ranging). If you take a closer look it has popped out of the upper trend line slightly. Take a look at the yellow box to verify. I've identified a bullish engulfing that leads me to believe that the stock has potential to break the channel and move to the upside. However, if it breaks the bottom of our channel, then we should expect to see price go down. However, a falling wedge pattern was identified with confluences (rising volume and momentum).
Therefore, I am bullish on QCOM.
My entry will be based on these findings to include the patterns identified. A break of the recent candle and channel will be my signal to enter a swing position.
*This is not financial advice.
Freedom & peace is prosperity,
MrALtrades00
Gap up from November 4,2021
Falling Wedge
Bullish Engulfing inside Falling Wedge pattern!
Best investment Qualcomm incAccording to me the best investment you can do in your life is Qualcomm inc.
Especially huge amount of money.
I look for a retrace price action towards $50 before never ever returning back to the past again.
Price target: $1500 and above.
Will pay you both physically and moneywise
________________
Imagine technology that becomes cheaper but better.
(Not related to the title)
QCOM - Poor technical SetupNASDAQ:QCOM seems to have a poor technical setup which increases the likelihood of stock filling the gap under $100. Silver Lining is the last ER call where Mgt downplayed a China Lockdown owing to the fact that consumer handheld business outside China remains strong and potentially offset China loss. Personally I'm on the fence here with an Avg around $141 evaluating my next steps (May see how NVDA plays out this week after ER). QCOM is my 4rd largest position.
Current Portfolio as of 5/23:
Cash 23%
PG 13%
AAPL 11%
QCOM 10%
AMD 9%
MSFT 8%
NVDA 8%
CTRA 6%
MRVL 3%
GOOGL 3%
F 3%
WFC 3%
Disclaimer: My opinion on stocks are mine alone and not to be taken as Investment advice.
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 $150 price target for QCOM!
Looking forward to read your opinion about it.
QCOM at key support? Qualcomm
Short Term - We look to Buy at 124.23 (stop at 118.34)
We look to buy dips. Previous support located at 125.00. Although the anticipated move higher is corrective, it does offer ample risk/reward today. We look for a temporary move higher. Trading has been mixed and volatile.
Our profit targets will be 141.29 and 149.10
Resistance: 145.00 / 160.00 / 190.00
Support: 125.00 / 110.00 / 100.00
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$QCOM - shortdrew this a while back and of course if ends up being a little correct i should publish it. :)
Just and idea folks.
QCOM is at the Edge of a CliffQCOM appears to be ready to pull a Wile E. Coyote and run off a cliff.
Not a good look.
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Short scalp $QCOMBased on its downtrend, regress off resistance and a familiar chart pattern confirmed by my technical indicators, I expect at least half a percent in profits IF $QCOM breaches yesterday's low of $139.36 during today's session.
QCOM Wyckoff Distribution?Toward the end of last year, I posited the idea that QCOM was executing a "fake-out break-out". Bears get trapped after a failed consolidation then get short squeezed higher. Instead of trading to new highs, QCOM has only consolidated in a range near ATH. This leads me to believe that distribution is occurring near ATH. This is a major piece to wyckoffs price cycle.
I have marked off the elements of the distribution cycle that I believe we have seen so far. The remaining elements are a final upthrust (optional) and last point of supply, which traps bulls in a false breakout and converts the last of a long position into a short position.
Set up:
The pattern breaks down when the Auto Reaction support zone is broken. I am looking to take a short below that level (~$170). I will be looking for a break below the 100 sma as well as RSI to cross below 50 and MACD to perform a bearish crossunder.
Risk Management
My price target is near 140. It happens to be the gap fill and the fib extension. That is about a $30 drop from current levels. I believe a $3-5 stoploss is appropriate for this kind of swing trade.
I am sitting on my hands until I get confirmation that a breakdown will occur.
$QCOM with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $QCOM after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 50%.
Shorting $QCOM QUALCOMMI will be shorting QUALCOMM to the range of $90, after that will be going long to the target of $140 and will be exiting it.
Watchlist for week 5/2 - 5/6$QCOM $TWTR $DWAC $UBER watchlist for week 5/2 - 5/6:
$QCOM Calls > 142 | Puts < 130
$TWTR Calls > 49.5 | Puts < 48.6
$DWAC Calls > 54 | Puts < 50.5
$UBER Calls > 32 | Puts < 30
