Qualcomm QCOM Trading Advice

July 18, 2021, 23:15 pm ET, BY Quentin W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Qualcomm (NASDAQ: QCOM) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for QCOM change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if QCOM is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for QCOM too.  All of these are offered below the Summary Table.

Longer Term Trading Plans for QCOM

• Buy QCOM slightly over 131.35 target 147.96 stop loss @ 130.97 Details

The technical summary data tells us to buy QCOM near 131.35 with an upside target of 147.96. This data also tells us to set a stop loss @ 130.97 to protect against excessive loss in case the stock begins to move against the trade. 131.35 is the first level of support below 139.71 , and by rule, any test of support is a buy signal. In this case, support 131.35 would be being tested, so a buy signal would exist.

• Short QCOM under 147.96, target 131.35, stop loss @ 148.39 Details

The technical summary data is suggesting a short of QCOM as it gets near 147.96 with a downside target of 131.35. We should have a stop loss in place at 148.39though. 147.96 is the first level of resistance above 139.71, and by rule, any test of resistance is a short signal. In this case, if resistance 147.96 is being tested, so a short signal would exist.

Swing Trading Plans for QCOM

• Buy QCOM slightly over 143.43, target 147.96, Stop Loss @ 143.02 Details

If 143.43 begins to break higher, the technical summary data tells us to buy QCOM just slightly over 143.43, with an upside target of 147.96. The data also tells us to set a stop loss @ 143.02 in case the stock turns against the trade. 143.43 is the first level of resistance above 139.71, and by rule, any break above resistance is a buy signal. In this case, 143.43, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short QCOM near 143.43, target 139.64, Stop Loss @ 143.84. Details

The technical summary data is suggesting a short of QCOM if it tests 143.43 with a downside target of 139.64. We should have a stop loss in place at 143.84 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 143.43, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for QCOM

• Buy QCOM slightly over 139.98, target 142.53, Stop Loss @ 139.65 Details

If 139.98 begins to break higher, the technical summary data tells us to buy QCOM just slightly over 139.98, with an upside target of 142.53. The data also tells us to set a stop loss @ 139.65 in case the stock turns against the trade. 139.98 is the first level of resistance above 139.71, and by rule, any break above resistance is a buy signal. In this case, 139.98, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short QCOM near 139.98, target 139.64, Stop Loss @ 140.31. Details

The technical summary data is suggesting a short of QCOM if it tests 139.98 with a downside target of 139.64. We should have a stop loss in place at 140.31 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 139.98, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

QCOM Ratings for July 18:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Strong
P1	0	0	131.35
P2	139.98	139.64	147.96
P3	142.53	143.43	166.17

Support and Resistance Plot Chart for QCOM

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