QCOM really is breaking down… ?

Many months ago I noted a very long term rising wedge in QCOM.  A pattern as old as any I ever remember noticing. I didn’t bother posting it (or trading it), because it’s seemed so unlikely to me that QCOM would seriously break down.  However, I see it’s down 3% today… down to $70.  I don’t know what follows for it and don’t have a position, but I thought I should at least post these charts so you can see the pattern in play.  Here is the short term look.

2014-10-07-QCOM-ST_CHARTS

Here is the remarkable (to me, at least) long term perspective:

2014-10-07-QCOM-LT_CHARTS

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