It could be, but I would rather look at QLGC recent pattern as a second double top, just like the one we got in early December and January at around $56/57, now we have one at $51/52, and like the first one, the second top gave a fake breakout, which was aborted, if that analysis is a correct depiction of the pattern, one should expect $35 to be at least tested and possibly breached within two three months. Actually, if you look at the trio QLGC, BRCD and EMLX, they have similar structure, with QLGC being the stronger, BRCD double top not making it to the first top, and EMLX, actually, the weaker, the second top being quite far from the first.
Zeev |
