How the price action of Qualcomm (QCOM) is used to our Advantage
January 15, 2023, 20:30 pm ET, BY Rick O.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for QCOM
- Buy QCOM slightly over 116.60 target 131.98 stop loss @ 116.26 Details
The technical summary data tells us to buy QCOM near 116.60 with an upside target of 131.98. This data also tells us to set a stop loss @ 116.26 to protect against excessive loss in case the stock begins to move against the trade. 116.60 is the first level of support below 120.24 , and by rule, any test of support is a buy signal. In this case, support 116.60 is being tested, a buy signal would exist.
- Short QCOM slightly under 131.98, target 116.60, stop loss @ 132.36 Details
The technical summary data is suggesting a short of QCOM as it gets near 131.98 with a downside target of 116.60. We should have a stop loss in place at 132.36though. 131.98 is the first level of resistance above 120.24, and by rule, any test of resistance is a short signal. In this case, if resistance 131.98 is being tested, a short signal would exist.
Swing Trading Plans for QCOM
- Buy QCOM slightly over 131.98, target n/a, Stop Loss @ 131.6 Details
If 131.98 begins to break higher, the technical summary data tells us to buy QCOM just slightly over 131.98, with an upside target of n/a. The data also tells us to set a stop loss @ 131.6 in case the stock turns against the trade. 131.98 is the first level of resistance above 120.24, and by rule, any break above resistance is a buy signal. In this case, 131.98, 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 slightly near 131.98, target 119.25, Stop Loss @ 132.36. Details
The technical summary data is suggesting a short of QCOM if it tests 131.98 with a downside target of 119.25. We should have a stop loss in place at 132.36 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, 131.98, 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.
Day Trading Plans for QCOM
- Buy QCOM slightly over 121.12, target 131.98, Stop Loss @ 120.84 Details
If 121.12 begins to break higher, the technical summary data tells us to buy QCOM just slightly over 121.12, with an upside target of 131.98. The data also tells us to set a stop loss @ 120.84 in case the stock turns against the trade. 121.12 is the first level of resistance above 120.24, and by rule, any break above resistance is a buy signal. In this case, 121.12, 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 slightly near 121.12, target 119.25, Stop Loss @ 121.4. Details
The technical summary data is suggesting a short of QCOM if it tests 121.12 with a downside target of 119.25. We should have a stop loss in place at 121.4 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, 121.12, 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.
Check the time stamp on this data. Updated AI-Generated Signals for Qualcomm (QCOM) available here: QCOM.
QCOM Ratings for January 15:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Strong |
Weak |
| P1 |
0 |
0 |
101.08 |
| P2 |
117.99 |
112.77 |
116.60 |
| P3 |
121.12 |
119.25 |
131.98 |
AI Generated Signals for QCOM
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Qualcomm (NASDAQ: QCOM) data table below can help you with price action, and we have more details too. Trading plans for QCOM are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for QCOM:
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