Qualcomm: A Technical Look Suggests Further Weakness (QCOM)

The trend fror Qualcomm (QCOM) is very negative both in the daily and the weekly time frame. In the intermediate time frame there are no elements to assess a possible reversal so far. In the short term, yesterday hammer associated to the engulfing of today might generate a rebound towards the gap open at $41. In support of this possibility there is also the positive divergence of the MACDDiff. Should you take this trade, it is very important to have strict discipline applying a stop loss. Risk is high (click to enlarge):

Comments

[Richard Dwyer:]

The techinicals do look uninspiring. But the fundamentals suggest bullishness. Expect upside following the earnings report next week.

2006 Jul 13 08:49 AM