Trade Ideas Newsletter 11/13/2017

QCOM is showing significant strength right now

Based on the analysis above in QCOM, traders should determine that their portfolio can handle the additional risk from a new position. Also be sure that QCOM is not significantly correlated with your existing positions. Lastly, experienced traders never ignore how a new addition relates both to the overall market conditions as well as their existing account. For example, check the S&P 500. Is it trending or stationary recently? Has it moved up or down though key levels? Be sure to matvh up your trading actions on QCOM with the overall market so you are fighting the crowd.

CHART

Currently the important sentiment levels, evaluated by Traders For Wealth, have shown an increasingly negative bias toward QCOM. Also, the price action in QCOM has been moving up a lot. This is a strong sign for a potential upside contrarian play. Traders should view this as a bullish trade and make sure it aligns with the overall market mood, and their current positions.

Qualcomm Inc. (QCOM)

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications. The Company’s segments include QCT (Qualcomm CDMA Technologies), QTL (Qualcomm Technology Licensing) and QSI (Qualcomm Strategic Initiatives). The Company also develops and commercializes a range of other technologies used in handsets and tablets that contribute to end user demand. The Company’s products principally consist of integrated circuits (chips or chipsets) and system software used in mobile devices and in wireless networks.