QCOM made a double bottom and is now looking to break!
QCOM has been doing well fundamentally with its sales growth more than 30% quarter-over-quarter.
Technically it's on a clear up-trend and just recently had a nice pull-back.
Looking at the price-action on the weekly, we can see that it just made a double bottom and is now looking to break.
What makes this more interesting is that the pull-back used the 10-EMA on the monthly time-frame as support and volume is kicking in.
Thoughts:
* QCOM made a double bottom and is now looking to break
* The double bottom will be confirmed if the price breaks and closes above 144.10.
* The measured objective of the pattern would be close to its all-time-highs.
Trade idea:
* Wait for a confirmation of the pattern i.e. wait for a close above $144.10
Technically it's on a clear up-trend and just recently had a nice pull-back.
Looking at the price-action on the weekly, we can see that it just made a double bottom and is now looking to break.
What makes this more interesting is that the pull-back used the 10-EMA on the monthly time-frame as support and volume is kicking in.
Thoughts:
* QCOM made a double bottom and is now looking to break
* The double bottom will be confirmed if the price breaks and closes above 144.10.
* The measured objective of the pattern would be close to its all-time-highs.
Trade idea:
* Wait for a confirmation of the pattern i.e. wait for a close above $144.10
Nota
Broke above and retested 144.10. Now would be a nice time to get in.
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.