Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.01

-0.3%

Nov 14 9:30 AM EST

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To: Craig Schilling who started this subject	9/7/2000 7:17:07 PM
From: HairBall	Read Replies (2) of 152472

To All: After having called the tops in QCOM and announcing short positions several times on this thread (whiched forced me to turn of my pmail for a week each time...<g>) At the time I called a top Jan 3rd, I mentioned that I expected the Oct 98 Rising Support Line would prove to be final support. After the above calls, I decided it only fair to let the thread know when I thought a bottom was near. On Sunday July 9th, I posted on this thread I thought QCOM was very near a bottom, she bottomed two days later on Tuesday July 11th. Message 14015152 I believe a reversal consolidation has taken place. A sustained advance is now possible (barring no market melt down or disastrous news). I know my charts are busy, but that is because these are daytrading charts. If you are having trouble understanding the charts, understand that support and resistance trend lines and horizontal price action areas are used along with technical indicators to make intraday buy/sell decisions. Read the chart description below to better understand the lines on my charts. My QChart QCOM (Qualcomm) Daily Semi-Log Chart The price action has over the last two days broke above the triangle consolidation pattern and today moved above a longer-term falling resistance line. Follow through is needed to confirm this breakout. marketdirectionanalysis.homestead.com For this daily chart: Dark Yellow Line is the 50-Day SMA (price closed above yesterday and today), Orange line is 200-Day SMA. ------------------------------------------------- My QChart Trend Lines My charts are screen captured at (1024 x 768) and are best viewed at that resolution. Green lines are resistance trend lines or resistance horizontal price action areas. Red lines are supportive trend lines or supportive horizontal price action areas. Gray lines (SRLs) are either resistance trend lines, resistance price action areas, supportive trend lines or supportive price action areas that have been broken. They can now act as either support or resistance depending on price action. Dark blue lines are formation lines. Light blue lines are previous formations, but on occasion are used to depict longer-term formations as well. Note: Some of the trend lines that appear on my charts may have been establish by one or more price action points not shown in the current view or snapshot. ------------------------------------------------- Regards, LG Disclaimer: The above is my opinion only and I reserve the right to be wrong. Do not base any investment decision solely on any one person's views or analysis. Do your own research and take responsibility for your investment decisions.

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