Qualcomm – extremely overbought after a 74% rally within 3 months! (23 Apr 19)
Dear readers, This week, Qualcomm caught my attention as it has appreciated approximately 74% from US$49.10 to trade at US$85.62 in less than 3 months. This is due in part to the favourable announcement that Qualcomm and Apple have reached a multi-year settlement agreement (click HERE for more information) Why is it interesting? Personally, I think Qualcomm may be a potential short target with a favourable risk to reward proposition with a take profit of a few bids, base mainly on a technical perspective. Basis to short a) With reference to Chart 1 below, Qualcomm is on a […]