multiple trend resistances lines holding it back! 🐻QCOM unable to break that trend resistance for a while now, even if it rallies a bit I wouldn't long
I expect 100 or lower in next few months or so.. boost and follow for more! thanks ❤
QCOM trade ideas
Qualcomm (QCOM) | Two Technical Scenarios, How To Get It!Hi,
I have a few requests about Qualcomm (QCOM) and I would like to some technical scenarios, how to get it.
Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks.
The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front-end modules into smartphones, as well as chips into automotive and Internet of Things markets.
Let's start with the first one and it is so-called buy the strength. Currently, it trades between $120 to $130 and there is quite a strong horizontal level to fight with. So to buy it at the current prices would technically be a mistake. As I have said if you don't want to buy it from the bottom or if you don't want to buy the weakness then you have to wait for a confirmation.
QCOM gets its confirmation after it has made a new mid-term higher high (HH). It will give the confidence that investors are interested more than before. The new mid-term higher high gets confirmed after weekly trading closes above $140 (blue line). After that, we have a break above the strong horizontal price zone, new HH, and wait for a retest to occur to get in a bit better prices.
The second scenario is to buy it after it gets a downward rejection from the current price. It is possible because $120 to $130 has been historically a really strong price level and rejection of new lows isn't utopic.
To prepare for a new decline we have to find the strongest price zone below and technically the strongest price zone stays just below $100, okay let's include the $100 there as well :)
The criteria are:
1. The round number, the psychological number $100.
2. 50% drop from the all-time high. Well-known stocks often find support around this criterion and currently, it stays at $97-$98.
3. The most powerful criterion is the old resistance levels become support levels. Basically at the end of 2020, when the breakout and the rally to all-time highs started, it has not retested the breakout area yet. So we have quite a good amount of liquidity there to wait for. These untested areas, combined with other criteria to support it, can play out with a high percentage of the time. Hopefully, this time is not an exception ;)
Summary:
Technically there are two options:
- Wait for a break above $140, to get a confirmed move and wait for a retest around $130.
- If the current "rally" doesn't break the strong horizontal level then wait for lower levels from where we might get that needed liquidity and it stays around $75 to $100.
Do your own research and if that matches with mine then you are ready to go.
Thank you,
Vaido
QCOM nearing breakoutQCOM on weekly candle nearing breakout. Right now it is reached resistance zone which was earlier support. Support take around 100 and bounced back. Once this resistance breaks it will shoot towards North. Keep watch on it. AI will give boost to chip market.
Qcom another leg up after breaking multiple resistance linesQCOM looking for a small correction and potential bull flag after breaking a multi week line as well as one from last july. This is a potential call setup 45-60 days out with a strike within 20$ of current price
QCOM Expecting QCOM to continue much higher in the coming months. Basic breakout continuation play. Lagging behind the rest of it's sector and ready to pop.
QCOM LongJust a decent risk/reward trade here on QCOM. Good company that will be around for a long time. I'm going to give it a shot.
M PatternM patterns are known to reverse at the end of the 4th leg.
This one landed between the 1.113 and the 1.272. Rarely do Harmonic patterns hit a Fib level right on the dot.
Leg 2 hit the .786 on the pullback which points to a Butterfly pattern. The Butterfly ends at the 1.272 and price did not quite make it to the 1.272.
An Alternate Bat ends at the 1.113, but it's rules do not allow leg 2 to reach the .786.
So choose (:
Overbought with RSI on 70. Not overbought with RSI on 80.
Qcom.. Next to run?Closed up at weekly trendline resistance and weekly 20.
I like calls over weekly 50sma or 123.
First target
- 140
I expect a pullback in the form of a flag before the next leg higher
QCOMQCOM making a bullish breakout
high volume with a gap above resistance
there is a reversal island and reverse head and shoulders pattern
this chip maker didn't participate in the last semiconductor rally
maybe now its time
QCOM Stock Analysis - Promising Mid-Term Long EntriesIn this analysis, I present my perspective on QCOM and identify two highly promising mid-term long entry zones, labeled as Buy Zone 1 and Buy Zone 2.
Technical Analysis:
QCOM has recently broken through its downtrend, indicating a potential reversal towards the upside. However, this breakout was accompanied by relatively weak price action and a subsequent retest that failed to generate a significant bounce. As a result, a falling wedge pattern has formed.
Buy Zone 2:
The falling wedge pattern suggests a higher probability of reaching Buy Zone 2, which coincides with the QCOM's long-term trend line. This zone presents a strong support level and offers an excellent entry point for mid-term long positions.
Buy Zone 1:
Alternatively, Buy Zone 1 also serves as a solid support level and provides an attractive entry opportunity. Traders considering this zone should be aware of potential market fundamentals that could push the price towards the lower range of the downtrend, around the $62-$56 region. If the price approaches this region, it would present an extremely strong investment position, taking into account all perspectives of QCOM.
This analysis is not financial advice, but rather a presentation of my personal views and ideas on QCOM's potential future movements.
QCOM island bottomisland bottom: when the market leap up and leave the previous gap unfilled it is called an island, it is a very bullish formation as it reflects the mispriced pessimism reversing.
pls zoom in the chart to check the price action in gap areas.
Qualcomm LongIt looks like a good buy area here, but it may fall down more. We can start accumulating and our take profit should be focussed on 125 and if the trend is very bullish, the next take profit zone would be around 137.
Please do your own analysis and trade wisely folks - Thanks
$QCOM with a bearish outlook following its earnings #StocksThe PEAD projected a bearish outlook for NASDAQ:QCOM after a negative under reaction following its earnings release placing the stock in drift D with an expected accuracy of 58.33%.
QCOM - Rising Trend Channel [MID TERM]🔹QCOM shows weak development in a falling trend channel in the medium long term.
🔹QCOM has broken a resistance level in the short term and given a positive signal for the short-term trading range.
🔹QCOM is approaching's resistance at 120, which may give a negative reaction.
🔹Overall assessed as technically negative for the medium long term.
Chart Pattern;
🔹DT - Double Top | BEARISH | 🔴
🔹DB - Double Bottom | BULLISH | 🟢
🔹HNS - Head & Shoulder | BEARISH | 🔴
🔹REC - Rectangle | 🔵
🔹iHNS - inverse head & Shoulder | BULLISH | 🟢
Verify it first and believe later.
WavePoint ❤️
Is the bullish run on tech stocks done? check out QCOMAfter taking out the October and November lows, QCOM has surged to activate a Fake Break Down reversal pattern, as well as an odd looking island reversal pattern, leaving behind almost the entire month of May's trading days. It might need a breather here as it runs into some short term resistance, but I'm long.... 🤷♂️
QCOM! trend support seems to be holding for the moment, looks like going to fill the gap in the v st... double bottoms etc... start trading w long bias and build on if it breaks above the downtrend resistance
QCOMDue for a break to the upside. Bull flag formed from the past week. Could break up and test upper bounds of trend line towards gap fill.
How to Trade Three Outside Down PatternsHow to trade three outside down patterns with entries and stop levels.
Accumulate for long termPrice is testing at Fib 0.618 just right above the up gap.
Stoch and MACD oversold, a short term trade to fill the down gap with potential 8.19% return is possibe too.
I would nibble some for long term.
Levels to day trade QCOMQualcomm said in September last year that its automotive business "pipeline", or potential future orders, rose by more than $10 billion to $30 billion since its third-quarter results were announced in late July, as automakers increasingly equip their cars with driver-assistance systems.
The company, which has credited the jump to its Snapdragon Digital Chassis product, competes with Intel's Mobileye Global (MBLY.O) and Nvidia Corp (NVDA.O) for that slice of the market.
2000 vs 2020 Tech crashesQCOM was the hottest stock of 1999, and had a similar fall from grace as the biggest tech names of the time, if not faster. Some of the top tech stocks by market cap were: MSFT, CSCO, INTC & IBM
I believe in a 2-3 year bear market, but we are pretty close to 2000 levels in a lot of major Tech stocks already. A lot of people wanna sell it to the floor as fast as possible, but that's not what the bear market really looks like. It's the white box.
M Pattern2 touches to the 1.113 and at a support level today once again.
A Pocket Pivot (smart money footprint) noted at the 1.113. Nice to see a PP but these can fail to provide support as smart money is not always right and another firm/rich guy with bigger feet may sell a butt load of shares the same day or the next. (o:
There is an old gap not far below price (look to the far left) that could fill or provide support.
Strong stock but I am possibly overly cautious/concerned that the 1.113 may fail so I am watching this. Leg 2 terminated at the .786 or close to it which fills the bill for a butterfly pattern that would dip in to the old gap up and should terminate near the 1.272. Peak 2 is lower than peak 1 in the crooked M pattern.
Patterns have been failing as of late so I do not count on anything as of late except take a profit faster than I used to.
I will revisit this.
No recommendation
