The pennant formation is for real; there is an over riding factor, however, for this stock that on some level is more crucial to its trading characteristics...the volatility in expectations and news for QCOM.
One rarely finds a stock with such a following, and such high expectations for future performance. As you know, Bill, news wins out over TA, and that certainly holds true for QCOM.
If the news stays somewhat uniform, I say *YES*, this stock will breakout in the near term. If the news continues to be irratic, I'm not so certain. Especially now that Jill and the gang are writing calls when it hits the mid 140s!!!
Will certainly keep an eye peeled on the Q next week,
Teflon |
