After reporting earnings a few weeks ago, QUALCOMM, Inc. (NASDAQ:QCOM), a leader in the technology sector dropped from a high of $81.97 to a low of $76.66. The stock briefly paused, as it found some support around the 200 day moving average. However, this pause did not last long and the equity continued to fall, recently making a low of $71.82.
Over the last couple of days QUALCOMM, Inc. (NASDAQ:QCOM) has been moving higher from an oversold condition. This move up is no more than a technical bounce, and could be short lived.
The Trade:
Should QCOM come into the $76.25 area this week, traders as well as investors could use this area of resistance to sell the stock short and profit as it pulls back. Watch this level closely. We will analyze and alert our Elite Round Table members of the exact time to enter this QCOM trade.
Over the last couple of days QUALCOMM, Inc. (NASDAQ:QCOM) has been moving higher from an oversold condition. This move up is no more than a technical bounce, and could be short lived.
The Trade:
Should QCOM come into the $76.25 area this week, traders as well as investors could use this area of resistance to sell the stock short and profit as it pulls back. Watch this level closely. We will analyze and alert our Elite Round Table members of the exact time to enter this QCOM trade.
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Kiliam Lopez
