QCOM trade ideas
QCOM, Qualcomm (long-term)This stock also has currently a Ascending Channel pattern and RSI is currently in a bullish mode. This company has strong potential to increase their growth due to the fact that they make parts for smart phones. finance.yahoo.com finance.yahoo.com
Qualcomm Sell SignalPrevious sell signal confirmed by the divergence was in line with my expectations for drop under the 200 day moving average.
Currently QCOM stock shows the same pattern. The target price is around $60.
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$QCOMDaily and Hourly charts setting up for a short position contingent on no major market moving news. I'm fully expecting the FED to announce no QE3 this month, to confirm the bearish swing reversal here.
Qualcomm approaching reversal point (updated)In post published three months ago named "Qualcomm seasonal trading" I have pointed out the repeating seasonal pattern of this stock. Since then the share fell from $62 at the end of April to the bottom of $52.9 in mid July. Probably the correction has not finished yet however there are signs that we are approaching the end of summer bear market as second half of the year tend to be bullish for the stock.
