Yesterday I added QualComm
QCOM
to my portfolio.
I have several reasons for this:
1) technical picture looks bullish to me. First QCOM successfully tested the 38% Fibonacci retracement level on March 8th. Second, this happened simultaneously with a test of the 200 day MA. Third, on March 25th it set a higher bottom, after again testing the 200 day MA. And finally, yesterday it broke out upwards out of this consolidation pattern.
First resistance seems to be the gap formed on Feb 4th, around the price level of 150-152.
2) QCOM is also attractive on the fundamental side with a forward P/E of 18 (EPS: 7.35). The company should be able to profit from the strong demand in semiconductors in general and the adoption of 5G.
I'm looking for a 20%+ return on this investment within a timeframe of 6 months.
QCOM
to my portfolio. I have several reasons for this:
1) technical picture looks bullish to me. First QCOM successfully tested the 38% Fibonacci retracement level on March 8th. Second, this happened simultaneously with a test of the 200 day MA. Third, on March 25th it set a higher bottom, after again testing the 200 day MA. And finally, yesterday it broke out upwards out of this consolidation pattern.
First resistance seems to be the gap formed on Feb 4th, around the price level of 150-152.
2) QCOM is also attractive on the fundamental side with a forward P/E of 18 (EPS: 7.35). The company should be able to profit from the strong demand in semiconductors in general and the adoption of 5G.
I'm looking for a 20%+ return on this investment within a timeframe of 6 months.