Qcom back to 123Supply area rejection. currently sitting on 200ma, targets after that is 50ma and 100 ma at 135. Fib support at 132, a break below 132 will lead to the eventual 123.
Soxl chip sector has been weak ever since the distribution has started with NVDA.
Macd -Death cross
A break in that white trendline is a double top
QCOM trade ideas
QCOM LongQCOM Long. Going into earning it looks like QCOM has found a bottom. It broke out of its wedge after a correction to fill a large gap created months prior. Now that the gap has been filled, QCOM will resume to the upside as long as it maintains the trendline. Earnings will be crucial in determining next large move but I believe a pre earnings run up is in the works.
Trend line SCALP Bounce off support 140 SUPPORT QCOM Has been trending upward for a couple weeks now - I decided to start trading semiconductor stocks and randomly thought of QCOM.
Take my ideas with a grain of salt as I am an ametuer but according to my analysis and looking through the order book this analysis holds true.
Anyway, I see trading down to the 140 range tomorrow during intraday then fading upward into the day .
My exit would be as soon as the order book tells me it’s time to get out as I mainly scalp options but I wouldn’t mind swinging this setup with the correct contracts.
Sorry for the not so detailed outline - I am new to this and would love feedback or how I could make it better.
Cheers.
My View on QCOMQCOM breakout and perfect backtest the trendline.
Golden Cross in 4H chart (SMA 50 cross SMA 200)
I don't mind giving QCOM a CALL. This is QCOM $145C 20/08/21 100 at a 5$ contract (My choice)
On the other hand, QCOM Debit Call (vertical) 145/150 20/08/21 100 at $1.95 contract (highly recommend)
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This is not financial advice. I'm not a Financial Advisor.
Trading is a high risk, do your own DD.
Let me know what you think
Cheers, I would share all my thought next time.
PEACE.
Trade Idea: Buy Qualcomm Inc. The Semiconductor sector has rewarded anyone that latched on the previous opportunities highlighted:
- On our 16 March radio slot we recommended Nvidia at $527. Since then, the share has had a strong move, testing $800 during yesterday’s trading session.
- We also recommended the SOXL ETF (on 15 June) at just over $40. Initially we saw a pullback however yesterday the ETF rose to it’s highest level since April, adding 7.35% by the close of trade.
Today we recommend another leader in the sector, Qualcomm Inc. The share has been consolidating for the past 8 months and is off it’s February peak of $167.58.The group has exceeded analysts earnings expectations for the last 10 quarters and technically, appears poised to resume it’s upward trend as it: (1) held the pivot, (2) regained the 8 and 21-day Exponential Moving Average (3) attempts to clear the overhead supply at $141.70. With supply constraints continuing to dominate the sector, we think the share has the ability to advance.
Last: $139.72 (Pre-market $139.41)
Buy Range: $137.70-140.00
Stop-loss: 132.45
Target Range: $153.00-157.00 (also note the gap at $161.80).
$QCOM Qualcomm Bullish Setup
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$QCOMLooks like all i can see is short setups, so here's another one. Nearing my (POI) zone and will be looking to short it. right now its on the ascending channel which makes me believe it will go to my POI zone when i can short.🤪 Also it is approaching resistance. Please do your own DD my analysis is purely technical.
Trade Safe
Goodluck.