For now this looks like a bullish retest of this triangle structure but obviously if we lose the weekly moving average as support we could go down to the bottom of the big multi year fib channel at approximately 115$ or even the pink moving average which is sitting at about 100$ which is the previous dot com bubble all time high. I consider these 2 areas very strong support, honestly I doubt Qualcomm will reach these targets as this company has very strong finances and technology. There seems to be a lot of demand at the 125$ level as well.
As we can see with the weekly Heikin Ashi candles the trend still appears to be to the downside but the last 2 candles are looking a lot more bullish than the ones before that.
I bought more shares today and will add more if it drops to these targets. Good luck with your trades guys!
As we can see with the weekly Heikin Ashi candles the trend still appears to be to the downside but the last 2 candles are looking a lot more bullish than the ones before that.
I bought more shares today and will add more if it drops to these targets. Good luck with your trades guys!
Comment:
Yup, I believe this is the bottom. Doji weekly candle often signals a change of trend.
Comment:
The pink exponential moving average was hit at 105$, is this the bottom for Qualcomm? This moving average is probably the most important. As you can see on this chart, when it holds as support, good things happens, but if price action slices through it, we will most likely see 75$ for Qualcomm