Wednesday, April 25, 2018 12:13:40 PM
Shares of Qualcomm Inc. (QCOM) continue to sink for the sixth straight day. However, today is different. Qualcomm is hitting major technical double bottom support on the daily chart at $49.00. The stock is down from near $69 just a couple months ago on buyout speculation. With earnings scheduled for after the close today, investors should be cautious, with a slight bullish edge. I personally like the chart here heading into earnings, even in this rocky market. The even number of $50 crossing plus a time count add to my bullish bias. I would not be shocked to see a bounce back to $53 on earnings today.
Gareth Soloway
InTheMoneyStocks
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