Qualcomm: A Technical Look Suggests Further Weakness (QCOM)

Jul.12.06 | About: Qualcomm Inc. (QCOM)

The trend fror Qualcomm (NASDAQ: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):