Long the Most Hated Stock in the World

Well, the title is probably hyperbole but QCOM is a former darling that is fighting court battles for massive dollar amounts and is about as far from a sure thing as there is. Yet still, I bought it for a little daily chart bottoming pattern last week.

It measures to 55, which is conveniently at the declining SMA 200. There is also a gap that could be filled just above there. MACD and RSI are green so, who knows? Maybe it’ll work out for a trade.

qcom

From NFTRH 468’s Charts & Notes segment…

I bought QCOM in a very uncommitted way. Need to see the trend line break. This stock still has a lot of risk because it is fighting court battles all over the place.

Here’s the updated version of the weekly chart that went with the note above. It’s hinting, at least.

qcom

[edit] Ha ha ha… a picture taken and sent to me by a subscriber this morning after he saw this post.

qualcomm

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