Gareth Soloway
InTheMoneyStocks
Tuesday, October 17, 2017
$QCOM Gives Investors Great Buying Opportunity Right Here...
QUALCOMM, Inc. (NASDAQ:QCOM) has a classic bullish retrace setup that gets me excited to buy. The stock has made multiple higher lows and higher highs in recent weeks signaling a near-term up-trend. Following the latest move higher, the stock retraced to the major support of the daily 20 and 50 moving averages. This huge support level confirms the buying opportunity. The only reason QUALCOMM is not at its 52 week highs is because the company is in a legal battle with Apple (AAPL). Eventually, there will be a settlement. I believe when that happens this is a $60.00 stock. This chart setup is very bullish.
