QCOM: Massive Double-Bottom-Formation, TARGETS Ahead!
By:TradingView
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Hello There,
welcome to my new analysis about QCOM from the weekly timeframe perspective. In recent times I detected interesting stocks in the market that are likely to turn into profitable surplus trades. One of them being QCOM, the stock has already accelerated heavy bullish volatility and momentum in recent times. Currently, such stocks provide strong opportunities to add to the portfolio for growing it, which I also do in my current trading approach.
As when looking at my chart now, we can watch there how QCOM has formed this gigantic double bottom. The first bottom and the second bottom have already been completed, marking the major bullish pattern from where further bullish alignments are highly likely. QCOM already surged past the 200 level, building strong bullish momentum. This 200 level is also the neckline of the whole double bottom formation, marking the completion of the formation.
This breakout activated the upper bullish target zones as they are seen in my chart. QCOM from this point is likely to accelerate bullishness. When the bullish alignments continue and the bullishness accelerates, the targets will be reached sooner rather than later. QCOM is also structurally above the important EMAs. The 200-EMA in blue is a major support. The 100-EMA in orange is a major support. All these factors support the bullish continuation to accelerate moving into the projected target zone.
In this manner, thank you a lot for watching!
The support is highly appreciated.
VP
welcome to my new analysis about QCOM from the weekly timeframe perspective. In recent times I detected interesting stocks in the market that are likely to turn into profitable surplus trades. One of them being QCOM, the stock has already accelerated heavy bullish volatility and momentum in recent times. Currently, such stocks provide strong opportunities to add to the portfolio for growing it, which I also do in my current trading approach.
As when looking at my chart now, we can watch there how QCOM has formed this gigantic double bottom. The first bottom and the second bottom have already been completed, marking the major bullish pattern from where further bullish alignments are highly likely. QCOM already surged past the 200 level, building strong bullish momentum. This 200 level is also the neckline of the whole double bottom formation, marking the completion of the formation.
This breakout activated the upper bullish target zones as they are seen in my chart. QCOM from this point is likely to accelerate bullishness. When the bullish alignments continue and the bullishness accelerates, the targets will be reached sooner rather than later. QCOM is also structurally above the important EMAs. The 200-EMA in blue is a major support. The 100-EMA in orange is a major support. All these factors support the bullish continuation to accelerate moving into the projected target zone.
In this manner, thank you a lot for watching!
The support is highly appreciated.
VP
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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