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