QCOM Stock Sell Trade Idea: This is a Qualcomm (QCOM) short sell trade for a change, from all the long trades so far. QCOM stock is showing weakness on the weekly chart, so a sell trade idea seems appropriate. This is in line with the bigger market structure picture.
Below is snapshot of the twitter post just to show the timestamp.
A larger chart is shown below.
QCOM Stock Sell Trade Idea – Chart
Click chart to enlarge.
QCOM has earnings due on the 29th April. Even though these may meet or beat consensus, the forward guidance (if any) will be weak. I believe QCOM stock will eventually sell off and have a target of $65. I know this is going against major opinion, so please do you own research.
I will update this post in a few weeks with the outcome.
Stock Screeners Used
TrendSpider Technical Analysis scanner and charting software. I have created many personal technical scans to find stocks in play.
You can follow me on twitter @StockScreenerHQ for more trade ideas, as I don’t always have time to write them up here. These are NOT stock tips. Please note these are just trade ideas that I may, or may not take. It just helps me to focus by writing them down. I also do not give exits as I have various readers from Day Traders to long term Investors. Each of you have to do your own research, and use your own exits that suit your style of trading.
Disclaimer:This information is for educational purposes only, and NOT a trade recommendation. these are just trade ideas that require more due diligence and research on your part. I may or may not take the trades myself.