Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Monday, December 25, 2017

QCOM Working Its 2-Year Sideways Channel

QCOM enjoyed a massive breakout a couple of months ago from its 3-year declining blue channel right as it was sitting with an aggressive posture on the lower line of its 2-year sideways green channel.



click on image to enlarge



The big pop stopped right at the upper line of QCOM's green channel like clockwork and such a fierce pop would normally cause multiple weeks of pullback and a drop but this past week QCOM is tempting investors to hold as it starts to setup on the lower line of the red, almost vertical, tube channel.


Trade well my friends

Alan





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