A clean Rectangle often precedes a big move. Validate your entry.
Sideways movement between parallel supports.
Bearish continuation pattern.
Bearish continuation if preceding move was down.
Technical analysis of Qualcomm (QCOM) reveals a significant setup. Price has moved to $126.8 (-0.38%) amidst recent volatility. Algorithmically, a Bearish Flag structure has completed. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $124.01, targeting $64.89 with support near $132.34 (R:R 7.1).
What is your outlook on QCOM?