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QCOM offering a Pocket Pivot entry in a base on base setup!* Excellent earnings * Very strong up trend * High 3-month relative strength of 4.43 in the Tech sector * Broke out of a 1 year base with tonnes of volume on earnings * Started to consolidate after the breakout in a tight 7-8 week range * Has a U/D ratio of 2.11, indicating that it's under accumulation Trade Idea: * You can enter on the closing price today as a pocket pivot signal. * If you're looking for a better entry you can wait for an opportunity near the $183.04 area * You can look to add to the position if the price makes a daily close above $191.30 Caution: * This is a pocket pivot signal and though there's little to no overhead resistance, the stock may not break out of the range immediately.
NASDAQ:QCOMLong
by HaseebKhan_90