I've entered a long position in $QCOM. Charts looks bullish. The factors for this decision were the following:
So, let's see how this plays out.
- Price is above all SMAs (30, 50, 200)
- In the next days we should see a bullish cross of the 30 and 50 SMA
- The current low was made on the 5th of August, the next low on the 6th of September was significantly higher
- We have tested the resistance cluster [red] several times - the more it's tested the less likely it's being respected.
- Have you heard the rumours about the takeover of Intel? Me too, but I trade the chart not the news. ;)
So, let's see how this plays out.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.