$QCOM now one of my short term favs
QCOM looking to breakout of a symmetric triangle for a intermediate wave 3 of a primary 1. PT will be ~160.
Support: AVWAP and 30 week MA curling support below
Resistance: between 149-150 is last major resistance holding back the launch to 160
How to trade this: Right now we could still consolidate until early October. Create trendline break alerts and >150 alert. On QCOM breakout wait for slight backtest (strong breakouts dont have to fully backtest, so on breakout all dips a buy). At that point 155c several weeks away could be an effective position to take for the ride to 160. Stop loss would be set under the 149 resistance turned support
Support: AVWAP and 30 week MA curling support below
Resistance: between 149-150 is last major resistance holding back the launch to 160
How to trade this: Right now we could still consolidate until early October. Create trendline break alerts and >150 alert. On QCOM breakout wait for slight backtest (strong breakouts dont have to fully backtest, so on breakout all dips a buy). At that point 155c several weeks away could be an effective position to take for the ride to 160. Stop loss would be set under the 149 resistance turned support
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.