Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 168.06

0.0%

Dec 1 3:59 PM EST

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To: MileHigh who wrote (38941)	8/28/1999 11:33:00 PM
From: John O Dea	Read Replies (2) of 152472

The Q is in a rising channel and every day the support and resistance on the channel changes because they are rising with our stocks uptrend. On Thursday the upper channel line was penetrated and the stock closed below the resistance line. This gave a short term correction signal to traders. The channel is about 40 points wide, but remember it is always rising. top side 192-down side 151. The numbers change every day but the spread is constant. If we get a full correction, when it hits the downside line, we should have a classic Q reversal. When I picked up the sell signal on Thurs. I wrote some Sept 180 calls @ 19 1/2 to partially hedge myself for a little rough sailing. I have never posted before and make my living as a TA..

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