$QCOM Volatility Contraction Pattern? (VCP)

10月13日

QCOM has gotten a lot of bad news over the past few months, and it’s share price shows it. However, the chip sector is doing well, and you cannot count QCOM as down and out. After setting a low on August 5th it has now put in a series of higher lows and is tightening up (coiling) which is forming a VCP.
I like this technical setup and have an alert set in case the price moves up and over the downtrend line. Note that there seems to be a heavy area of resistance just above the horizontal line area. If I take this as a trade the chart clearly shows where my stop is going to be for a low risk reward trade. All TBD.


Here is some news helping HON but who are they going to for AI solutions?
Honeywell International Inc. HON shares are trading higher on Wednesday. The company expanded its collaboration with QUALCOMM Incorporated QCOM to create new AI-enabled solutions for the energy sector.
However, there is also concern that AAPL iPhone sales are not great, and they use QCOM chips. AAPL is also developing their own chips. But QCOM chips are used in the auto industry and many other industries as well.

10月14日

交易开始

QCOM triggered my alert. I have waited 30 minutes into the trading day and have now started a 1/2 size position. It will need to hold the LOD for me to stay in. Let's see what happens.

10月14日

注释

QCOM - Strong Snapdragon 8 Gen 4 shipments to significantly boost Qualcomm's 4Q24/F1Q25 business momentum -- MING CHI

10月14日

注释

QCOM doing what I wanted it to do... I was underwater just after I put the trade on and I had a hard stop just below the day low... Now it's looking good.

10月15日

交易手动结束

QCOM this is a late update. I closed QCOM out this morning for $3.10 profit per share. I had been up over $7 per share but the entire chip sector is getting sold off this morning. QCOM is back on the watchlist.

10月16日

注释

QCOM I have set an alert just over today's AVWAP at $172.50 only to put my eyes back on it to see if it is setting up for another trade. The chip sector as a whole will need to improve as well. Let's see what happens.

10月17日

交易开始

QCOM I have opened a 1/2 size position here @ 174.40 and I will place my stop under yesterday's low. Let's see what happens.

10月21日

交易结束：到达止损

QCOM back on the watchlist. I let this run past my stop which was a mistake. A reminder to myself, I can always but it back... and I may, but I took a bigger loss than I should have. (The loss was 5%.)