Tesla (TSLA) has been on a tear lately, but with the completion of an inverse head and shoulders pattern, the stock looks like it is finally going to pull back. Fifty percent retrace aligns well with many pivot points around the $350 dollar level.
The chart of QCOM (Qualcomm) has been consolidating on a trend line for the last few weeks. This trend line also happens to be the neck-line for a head and shoulders (Bearish) pattern. Expect the stock to fall substantially should it confirm below the neck-line. Target price after head and shoulders completion $85
After its huge rally, Zoom has been hovering at around the same price rage for the past few weeks. When looking at the weekly chart, you can see a bull flag (inside bar) patter forming. The resulting move would take the stock roughly eleven dollars to the upside should it play out.
The daily and weekly charts appear to be generating bullish consolidation. Target Price: $50 If the pattern fails the chart will need to be reevaluated
The smallest channel will most likely break to the upside. Ultimately we’re going to hit the mid-point of the largest channel. Or hit the low end.