QUALCOMM with bullish Flag Qualcomm is caught in its longtermdowntrend. Now the stock has reached an important resistance Level at round about 53$. Here is based the midterm downtrends upper edge and the important SMA 200.
In march, Qualcomm tried to beat this Level - a consolidation followed and stopped near the fibo 38,2.
From then on, a bullish flag appeared.
Now 2 different Szenarios can be traded:
- Short again, hoping that the resistance would hold again. With this opinion, an entry at the actual Level could be intzeresting. Stopp should be installed a tick above the sma 200. The TPs of this short coan be: 49,7 (flags bottom edge) / 49 (38,2 fibo) / 47,75 (0,5 fibo) / 44,4 longterm uptrends bottom edge) / 42,2 (last significant low) / 36 (worst case - midterm downtrends bottom edge)
- Breakout Chance : Long entry above the sma 200 with TP 58/59$.
i have illustrated the different views in the chart
