QCOM breaking out from a downtrend, price target 145$After testing the support around 127-130$ QCOM is ready to bounce towards 145$ after breaking out from a downtrend.
1QCOM trade ideas
QCOM🌦Pattern recognized: Regular flat Elliot Correction Wave.
Thesis: Bullish sentiment.
Conclusion: Lower degree correction on the 5 min, look for upside.
My strategy: MEWT (MODIFIED ELLIOT WAVE THEORY).
***This does not constitute financial advice.***
We're goin back!Let' us analyze the pre-pandemic company results:
We can see a strong trendline was formed from the beginning of 2019.
From the middle of 2018 the company was doing good: the average earnings per share was 0.8, and was holding for 2 years
The average price was ~72 on that trendline.
The after-pandemic results are 2-2.5 which is 2-3 times more!
1. We are close to the trendline again, which makes strong buyout support.
2. The fair price today is between 72 * 2 = 144 and 72 * 3 = 216!
Therefore, we are way lower then a fair pice now, so the chances for the immediate reversal are extremely high!
Besides,
* RSI is on the low border
* EWO is close to the pandemic minimum
* the 120-130 gap from November is closed
* The 200-day sma corresponds the trendline, see the idea linked
TUZEMUN!!! :-)
QCOM High Conviction Trend ReversalQCOM at 200 SMA support and will likely revert back up or trade flat.
Trade Ideas
Shares : Long around the 200 SMA ($125) for $140 and $152.5+ Profit Targets.
Short Put : 110 strike expiring 4/16 for $1.3 Credit. Short 14.5 deltas with a 82.5% POP. $1000 BPE for a decent 13% ROC. Close at 50%-75% profit, 150%-200% Loss or 20 DTE, whichever comes first.
Put Credit Spread : 115-120 strikes for $1.33 Credit. 63% POP risking $367.
Call Debit Spread : ATM or maybe 1 OTM.
Weak chart: Not a QCOM year 😔I picked QCOM after it's earnings drop at the start of Feb. Overall guidance and earnings were positive, so it seemed like a no-brainer.
And the stock was between the 50 and 100MA at the time.... but this was a play that just didn't recover and I've been sleeping on it because I had planned it for the very long term.
Long term thesis: I think QCOM has a lot of potential long term. It is almost a 5g+ EV + semi conductor play put in one stock. But when I re-visit the weekly chart, the stock looks weak and ready for a further correction unfortunately.
I am not saying holding this stock for a very long term at current price is bad. But I see it being a lagging stock for 2021.
I have a decision to make to either close my QCOM and re enter a better dip later this year, which I believe is coming. Or, HODL, relax and dollar cost.
I may end up going for the sell on this soon and reconsider an entry in future.
Good luck traders.
QUALCOMM (QCOM) Buy Signals on D1.QUALCOMM (QCOM),D1: Mirror level + Bollinger bands + Harami/Inside bar + Oversold + Discount
QCOM - Daily oversold - PT: $240RSI indicator showing that Qualcomm is oversold. A reversal to max $220 - $240 is very likely.
For educational purposes only.
QCOM Gap Fill Reversal QCOM has filled a previous gap in its chart today, it has its 200sma around 124 as support. Now that the gap has been filled i believe a reversal is in play and will get bought up to the next layer of resistance around 135.
$QCOM Checks Our Level... Now it's InterestingQCOM shares have pulled back to extreme oversold levels in a gap-check move into $135-140 support ( as we predicted ). With MACD starting to flash the green light, the stock should be on the radar.
Weekly Outlook! 3/1 - 3/5Here we go over last weeks video and we take a look at a few things we are keeping an eye on for the coming week!
Qcom Qualcomm Inc have a median target of 175.00, with a high estimate of 200.00 and a low estimate of 122.00. The median estimate represents a +31.18% increase from the last price of 133.40
Qcom channel trade Hit rock bottom after a earnings sell off followed by Nasdaq mini correction. bounce off the bottom of its channel today and I grab some contracts for 2 reasons.
1st - Over sold on all indicators RSI , MFI. and touch bottom of its. channel
2nd - President signed executive order for chip manufacturers (Sympathy play)
Yellow line is a downtrend .
Green lines are fibonacci targets , 100 day MA is also around 147$ area. will need strong volume to push through .
Double bottom at 151 which should help it closed that gap to 160
QCOM - Short Setup Break 142.43. Stop signal 146.53, stop 152.57. Target 1 126.23. Momentum Target from there. Strong insider selling end of last year. Could consider May $140 Puts
QCOM: Worldwide 5G Phones ReplacementSentiment play: Worldwide 5G Phones Replacement
Uptrend following
Based on Fibo retracement currently at strong support.
If break the support, to execute CL immediately, 1% below the support.
TP at fibo extension, 1.618 resistant.
There is no perfect trading. Ready to CL whenever require.
QCOM is still in a strong uptrendNotes from web browsing: "Assessing Qualcomm’s outsized gains, J.P. Morgan analyst believes “Qualcomm shares have reacted positively to the company successfully leveraging the 5G smartphone opportunity.” However, taking this into consideration, Chatterjee wonders how much upside is left from the 5G exposure. Luckily for Qualcomm, the company has other significant “revenue drivers.” Chatterjee estimates that the “combination of smartphone baseband as well as adjacent market opportunities will drive material upside for QCT revenues relative to consensus.” This should also result in roughly $1.4 billion more revenue than the analyst’s previous estimate for FY22. These “adjacent markets” are for RFFE (rf front end) in smartphones, automotive, and IoT (internet of things). While Chatterjee forecasts a 26% CAGR (compound annual growth rate) for 5G based sales between FY2019 and FY2022, RFFE smartphone is anticipated to exhibit a 40% CAGR, with Automotive at 25%, and an additional 8% for IoT. These figures are based on the assumption that Qualcomm takes a big chunk of revenue share from each SAM (service addressable market).
LONG QCOM into marchThese spreads have some good risk / reward with the semi conductor shortage and QCOM still at a decent p/e after the dip.
buying the 19th Mar $145.00 Call
selling the 19th Mar $150.00 Call
breakevens at 147.40
Max Profit is 108%
$QCOM, reversal and potential gap fill-QCOM has dropped near levels that haven't been seen since December and prior to that where the big earnings gap was created.
-As the reversal for a gap fill wanted to happen fast we notice that we are trading near levels prior used as support where we have $146 and $148 as we look to gap fill I will be looking at my first target of $152 to start entering the gap and as we continue the uptrend movement while expecting pullbacks for proper retest of levels as support I will be aiming for target 2 $156 and my last target to $162
