QCOM - Monthly breakout and retest of prior ATH level
QCOM broke out of the prior All time high and retested, bounced/held the same
Prior All Time High made in Jan 2022 - 193.58
Broke out of that level last month (i.e. May 2024) and traded above the prior ATH level so far (made a new high of 230.63 on 18June2024)
Traced back to its prior ATH level of and bounced from it in the past two days.
Now as long as the prior ATH of 193.58 holds, expecting it to see move higher
Stop loss for me would be a close of below 190 on Daily closing basis
Expected targets
T1 - 210
T2 - 220
T3 - 230 and
T4 - 250
If playing options, go with longer dated calls. If not, stick with commons/shares/stocks
Prior All Time High made in Jan 2022 - 193.58
Broke out of that level last month (i.e. May 2024) and traded above the prior ATH level so far (made a new high of 230.63 on 18June2024)
Traced back to its prior ATH level of and bounced from it in the past two days.
Now as long as the prior ATH of 193.58 holds, expecting it to see move higher
Stop loss for me would be a close of below 190 on Daily closing basis
Expected targets
T1 - 210
T2 - 220
T3 - 230 and
T4 - 250
If playing options, go with longer dated calls. If not, stick with commons/shares/stocks
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