Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.80

+0.3%

Dec 5 9:30 AM EST

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To: Craig Schilling who started this subject	10/25/2000 10:36:36 PM
From: HairBall	Read Replies (4) of 152472

Those of you that think TA is bunk, just click on past this post…<g> My QChart - QCOM (Qualcomm Incorp) Daily Semi-log Chart Some of you may remember I came on this thread with the aid of technical analysis and predicted a bottom to the in progress decline was close on Sunday, July 9th. Two days later the Q put in a major bottom. After the bottom was set the Q began to put in a complex consolidation in the form of a consolidation triangle. As the price action was preparing to break out of the consolidation triangle I projected a climb to 84.3125. The price action spiked past it intraday, but it did prove to be the resistance. Next my post expecting a retrace was not eagerly received. However, my follow up expectation that the overall market decline would put the brakes on the rally and that I expected an even further pullback, put me back in the doghouse on this thread. The sharp decline resulted in a test and intraday breach of the Oct 98 Rising Support Line before the price action rebounded dramatically in tandem with the NASDAQ. However, the price action began to wane with the Q before the NAZ and has dropped back to once again test the Oct 98 Rising Support Line and actually close below it today. This development is cause for caution. Q’s price action needs to move back above the support line. If the price action continues to fall away from this support line that will suggest a retest of the July low may be in the cards. marketdirectionanalysis.homestead.com How to Interpret My Charts marketdirectionanalysis.homestead.com Regards, LG

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