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Rant & Rave Blog

$QCOM Gives Investors Great Buying Opportunity Right Here...

Posted by Gareth Soloway Tuesday, October 17, 2017, 03:31PM ET

Read 354 times

QUALCOMM, Inc. (NASDAQ:QCOM) has a classic bullish retrace setup that gets me excited to buy. The stock has made multiple higher lows and higher highs in recent weeks signaling a near-term up-trend. Following the latest move higher, the stock retraced to the major support of the daily 20 and 50 moving averages. This huge support level confirms the buying opportunity. The only reason QUALCOMM is not at its 52 week highs is because the company is in a legal battle with Apple (AAPL). Eventually, there will be a settlement. I believe when that happens this is a $60.00 stock. This chart setup is very bullish.

 

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Stock market bullish chart trade buy on QUALCOMM, Inc.

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