QCOM...the next to fall

Pretty textbook weekly bear flag with reversal candlestick at 20 ma resistance....imho a retest of the 4.75 lows is in the cards......lookin to get short under last week's low with a stop over its daily 50 ma at 8.30.

Although a retrace is likely in the cards in the compx if we get more selloff this should certainly accelerate our chances Trade 4 me.

:)



-Flyin it High
 
Yes I am still short on QCOM. Hopefully it can close near the low today. Looks like flat support in the 25 area with a downsloping trend line, or a descending triangle. A good break of the triangle usually takes place 2/3 the way to the point where the triangle lines converge. It seems like it would be right about now.
 
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