QCOM displayed a time of consolidation on the weekly time frame which was the first indication of a major move. A confirmation towards this idea was given by the MACD as seen by it crossing the Signal line(increase in bullish momentum). The Daily time frame is also resting at its Fibonacci support allowing for a great entry. My price target for this stock is 160 due to the Fibonacci resistance resting there.
Although I am bullish on QCOM remember that Jerome Powell will be speaking this week, which may result in a more volatile market.
Although I am bullish on QCOM remember that Jerome Powell will be speaking this week, which may result in a more volatile market.