$QCOM - shortdrew this a while back and of course if ends up being a little correct i should publish it. :)
Just and idea folks.
QCI trade ideas
QCOM is at the Edge of a CliffQCOM appears to be ready to pull a Wile E. Coyote and run off a cliff.
Not a good look.
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Short scalp $QCOMBased on its downtrend, regress off resistance and a familiar chart pattern confirmed by my technical indicators, I expect at least half a percent in profits IF $QCOM breaches yesterday's low of $139.36 during today's session.
QCOM Wyckoff Distribution?Toward the end of last year, I posited the idea that QCOM was executing a "fake-out break-out". Bears get trapped after a failed consolidation then get short squeezed higher. Instead of trading to new highs, QCOM has only consolidated in a range near ATH. This leads me to believe that distribution is occurring near ATH. This is a major piece to wyckoffs price cycle.
I have marked off the elements of the distribution cycle that I believe we have seen so far. The remaining elements are a final upthrust (optional) and last point of supply, which traps bulls in a false breakout and converts the last of a long position into a short position.
Set up:
The pattern breaks down when the Auto Reaction support zone is broken. I am looking to take a short below that level (~$170). I will be looking for a break below the 100 sma as well as RSI to cross below 50 and MACD to perform a bearish crossunder.
Risk Management
My price target is near 140. It happens to be the gap fill and the fib extension. That is about a $30 drop from current levels. I believe a $3-5 stoploss is appropriate for this kind of swing trade.
I am sitting on my hands until I get confirmation that a breakdown will occur.
$QCOM with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $QCOM after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 50%.
Shorting $QCOM QUALCOMMI will be shorting QUALCOMM to the range of $90, after that will be going long to the target of $140 and will be exiting it.
Watchlist for week 5/2 - 5/6$QCOM $TWTR $DWAC $UBER watchlist for week 5/2 - 5/6:
$QCOM Calls > 142 | Puts < 130
$TWTR Calls > 49.5 | Puts < 48.6
$DWAC Calls > 54 | Puts < 50.5
$UBER Calls > 32 | Puts < 30
QCOM as buy in 2022 hard times?QCOM as buy in 2022 hard times?
Buy is based on technical - Supply and Demand Zone theory.
Price is currently inside discounted Demand Zone, zone is bigger so we can wait for LTF confirmation in form of bullish break of structure or make refinement of major POI on lower tf's OR just buy and be patient ;)
QCOM Holding Strong Support filled the gap; great support and could bounce from here, earning on 27th April
$QCOM D$QCOM on the daily could be very interesting. The setup and everything looks very nice heading into earnings. This should be on everyone's watch
Pullback to Enter for Long PositionRecent news from Chase pulls down this stock on Friday. It might retest the $140 level and could be a great entry for the long term.
$QCOM - Trendline bounceQCOM revisited long term trendline around $142.60 and bounced.
Target 1 - $157
Target 2 - $165
Target 3 - $176
Stop - $139
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines show support and resistance areas.
- Fib lines also show support and resistance areas.
- The dotted white lines show the price projection for breakout or breakdown target.
Disclaimer: Not investment advice.
QCOMIt has crossed the shaded area as shown on the chart. The targets are from it, we enter a correction to its maximum limits. It is clear on the chart, including a bullish wave. The analysis cancels when the third area is broken by closing a 3-hour candle below it or closing above the third target, an hourly candle.
QCOM | Qualcomm Incorporated | The Bulls Area Back In QCOMQualcomm is an American multinational corporation.
It creates semiconductors, software, and services related to wireless technology.
It owns patents critical to the 5G, CDMA2000, TD-SCDMA, and WCDMA mobile communications standards.
Over the years, Qualcomm has expanded into selling semiconductor products in a predominantly fabless manufacturing model.
It also developed semiconductor components or software for vehicles, watches, laptops, wi-fi, smartphones, and other devices.
Technical Analysis:
The price created a "Descending Channel" pattern and now we can see a clear
the reaction that it is trying to move up again.
Considering that all the indexes are also recovering and on the other hand FED is
making the impossible to push economic growth, QCOM can reach the targets on the chart
very soon.
Thank you and Good Luck!
QCOM Trade Idea Hi Traders,
Here's a long opportunity on QCOM, entry with stop buy order, everything is mentioned in the chart.
NFA, DYOR.
Good luck.
QCOM Timeframe: Medium Term, Technical: Bullish <$167.62#QCOM (Exited: Trendline, Entered: Bullish)
#Daily
#Technical Analysis
#crevixtrader
Pull Back FishingSeems like we are having 2 sunny market days in a row. SPY, QQQ and DIA are still under the 50 and the 200 daily SMA.
QCOM appears to have broken up from a cup and handle then fell from a rectangle top and has hit down targets.
Gap filled so possible support at bottom of gap. Low after fall from rectangle is 139.05 and possible stop below here or under 144. Resistance possible at top of that gap until broken. Price is at top of the gap today as I write this.
This market is strange, to say the least so be safe. Almost every stock has resistance overhead this go around, if in fact the market is truly turning up for a change.
Earnings 4-29
EPS (FWD)
11.85
PE (FWD)
12.17
Div Rate (FWD)
$3.00
Yield (FWD)
2.08%
Short Interest
1.24%
Market Cap
$159.23B
Volume
3,903,008
Qualcomm | QCOM | Short to Gap FillQualcomm ( NASDAQ:QCOM ). While I believe semiconductors will be the hot tickers again in the near future, Qualcomm needs to close the gap between $138.55 and $147.88. The upcoming Federal Reserve meeting and OpEx may serve as catalysts for this move. While it could rise to test resistance in the low- to mid-$160s to trap the bulls, I expect it to show more weakness ahead. Closing the gap below will be great for the bulls (like myself) in the long-run.
If it breaks resistance, thesis is broken.
QCOM exposure to ChinaThe U.S. warning China it could face devastating sanctions if it defies the ban on doing business with Russia!
This is a move that could have huge impact on American companies.
67% of QCOM Qualcomm revenue comes from China.
My price targets from QCOM are $126 and $92.
Looking forward to read your opinion about this.
