Weak chart: Not a QCOM year 😔I picked QCOM after it's earnings drop at the start of Feb. Overall guidance and earnings were positive, so it seemed like a no-brainer.
And the stock was between the 50 and 100MA at the time.... but this was a play that just didn't recover and I've been sleeping on it because I had planned it for the very long term.
Long term thesis: I think QCOM has a lot of potential long term. It is almost a 5g+ EV + semi conductor play put in one stock. But when I re-visit the weekly chart, the stock looks weak and ready for a further correction unfortunately.
I am not saying holding this stock for a very long term at current price is bad. But I see it being a lagging stock for 2021.
I have a decision to make to either close my QCOM and re enter a better dip later this year, which I believe is coming. Or, HODL, relax and dollar cost.
I may end up going for the sell on this soon and reconsider an entry in future.
Good luck traders.
