Chart to Watch

We've asked our friend Jim Robinson of to provide his expert analysis of charts to our readers. Each week he'll be be analyzing a different chart using the Trade Triangles and his experience.

Today he is going to take a look at the technical picture of Qualcomm Inc. (QCOM)


QCOM put in a double bottom,as the MACD made a bullish divergence.

A bullish divergence is always a place to look for a trading low to possibly come in at.

QCOM has made a strong gap up Thursday (07/19/12).

There are 3 kinds of major gaps :

#1 - A Break Away Gap
#2 - A Mid Point Gap
#3 - An Exhaustion Gap

Thursday's action looks to be a break away gap, and break away gaps normally lead to higher prices.

QCOM put in a weekly green Trade Triangle on Thursday's bullish gap up, which also suggests a low could be in.

QCOM is definitely a Chart to Watch !



Jim Robinson


3 thoughts on “Chart to Watch

    1. Please take a look at VHC on the ASE. Today was expiration day. Has no debt and is going to $100 shortly!!

      your short term read?..........................dma

    2. Hi !
      QCOM is filling the gap and testing the low, which stocks will often do
      after a big move off the low.

      Wait and see how QCOM plays off the test of the gap off the low,
      and that should give you a lot more information as to if QCOM
      will continue higher or lower.

      THANKS !
      Jim 🙂

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