QCOM

To make this trade, you will need an offshore account. With earnings having been reported, traders have little to no short term single stock 'event risk' on the horizon. The share is in a gradual upward trend with the structure and signal forming part of the re-emerging momentum category. Considering the analyst ratings since it's recent earnings, a number of institutions have adjusted their price targets with several BUY and OVERWEIGHT ratings. While an ultra short pullback is possible, the structure favors an upward trend. As always, if/when the share approaches the target: bank/take profit, partially scale out, adjust the stop-loss to protect profits. Time stop: 31 July 2024.

TRADING LEVELS:
Entry: 151.00
Target: 175.00
Stop-loss: 138.00