QCOM trade ideas
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).
Possible QCOM BreakoutQCOM Daily Chart looks really like a really good setup. I would go Long when we have confirmation that QCOM is breaking out of the triangle.
$QCOM Qualcomm Bullish Setup
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QCOM second gap fill?a few months ago I said we might see the first gap being filled and I had high doubts that the second Gap will get filled. Now I am a bit more convinced that we might see the 2nd gap being filled. I see a double bearish flag there is nothing showing QCOM reversing higher.
Qualcomm done consolidating?Waiting for 500/200 MA confirmation in 4 hour chart. Fundamentals are strong and the market is rotating back to tech/growth stocks. Good luck!
QCOM bullish pennant Technical analysis shows consolidation.
Fundamental analysis - this coming is at the forefront of the 5G revolution.
$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.
QCOM Finding Support @ $130 levelQCOM
Current Price $131.40 Price Target $165
Qualcomm is set to take a significant chunk of the 5G chip market that was dominated in the past by Huawei which is currently banned in the US & UK. 19x PE (FWD) & a 2% dividend is very attractive given the growth potential QCOM has. Recently the whole Chip sector has pulled back amid a shortage that will boost the sector for at least the next two years. This pull back is a buying opportunity for QCOM as nothing has changed for the company besides reporting a good quarter that beat expectations.
QCOM Gap Fill Trade4 months of consolidation, double bottom on newly established support after nice wave pattern. Gap Fill target, stop loss just bellow bottom of the range, 3:1 r/r with massive 20%+ upside. Overall very bullish trend.
If QCOM is forming ④ as expected, the price will go past 100usdNow we're looking at QCOM in the weekly chart (primary wave degree) where III has not ended yet.
There's still ongoing ④ (zigzag) that could go down to 100usd or lower.
If that's the case, I'll find an opportunity to play long there
