롱

$QCOM Volatility Contraction Pattern? (VCP)

업데이트됨

has gotten a lot of bad news over the past few months, and it’s share price shows it. However, the chip sector is doing well, and you cannot count QCOM as down and out. After setting a low on August 5th it has now put in a series of higher lows and is tightening up (coiling) which is forming a VCP.
I like this technical setup and have an alert set in case the price moves up and over the downtrend line. Note that there seems to be a heavy area of resistance just above the horizontal line area. If I take this as a trade the chart clearly shows where my stop is going to be for a low risk reward trade. All TBD.

Here is some news helping but who are they going to for AI solutions?
Honeywell International Inc. HON shares are trading higher on Wednesday. The company expanded its collaboration with QUALCOMM Incorporated QCOM to create new AI-enabled solutions for the energy sector.
However, there is also concern that iPhone sales are not great, and they use QCOM chips. AAPL is also developing their own chips. But QCOM chips are used in the auto industry and many other industries as well.

액티브 트레이드

triggered my alert. I have waited 30 minutes into the trading day and have now started a 1/2 size position. It will need to hold the LOD for me to stay in. Let's see what happens.

노트

QCOM - Strong Snapdragon 8 Gen 4 shipments to significantly boost Qualcomm's 4Q24/F1Q25 business momentum -- MING CHI

노트

doing what I wanted it to do... I was underwater just after I put the trade on and I had a hard stop just below the day low... Now it's looking good.

매매 수동청산

this is a late update. I closed QCOM out this morning for $3.10 profit per share. I had been up over $7 per share but the entire chip sector is getting sold off this morning. QCOM is back on the watchlist.

노트

I have set an alert just over today's AVWAP at $172.50 only to put my eyes back on it to see if it is setting up for another trade. The chip sector as a whole will need to improve as well. Let's see what happens.

액티브 트레이드

I have opened a 1/2 size position here @ 174.40 and I will place my stop under yesterday's low. Let's see what happens.

거래청산: 스탑 닿음

back on the watchlist. I let this run past my stop which was a mistake. A reminder to myself, I can always but it back... and I may, but I took a bigger loss than I should have. (The loss was 5%.)

jaxdog

Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.

I may or may not take any trade published and I am under no obligation to post any action or update to any idea.

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