QCOM is looking to break out of a symmetric triangle, and I think we will be seeing that soon. QCOM was +0.78% yesterday, even with the market flush, allowing it to close within the triangle.
Right now I am expecting to see a breakout to the upside and a PT of ~160 as the LOW on the breakout.
Positive signs: 30 week MA breakout several weeks ago, and successful backtest. 30 week is starting to curl to the positive side, and yesterday QCOM finished up when the market had a major flush.
Negative - ample overhead resistance we need to get above.
What I am watching for: Since we are in this "middle area", waiting for the breakout is ideal here. I wont be taking a trade until QCOM can breakout of the triangle. I am watching the 150 level closely as well. If we can get the breakout to the upside I will be looking at 155c's 30 DTE + on the backtest.
Right now I am expecting to see a breakout to the upside and a PT of ~160 as the LOW on the breakout.
Positive signs: 30 week MA breakout several weeks ago, and successful backtest. 30 week is starting to curl to the positive side, and yesterday QCOM finished up when the market had a major flush.
Negative - ample overhead resistance we need to get above.
What I am watching for: Since we are in this "middle area", waiting for the breakout is ideal here. I wont be taking a trade until QCOM can breakout of the triangle. I am watching the 150 level closely as well. If we can get the breakout to the upside I will be looking at 155c's 30 DTE + on the backtest.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.