Weak chart: Not a QCOM year 😔
Cập nhật
I picked QCOM after it's earnings drop at the start of Feb. Overall guidance and earnings were positive, so it seemed like a no-brainer.
And the stock was between the 50 and 100MA at the time.... but this was a play that just didn't recover and I've been sleeping on it because I had planned it for the very long term.
Long term thesis: I think QCOM has a lot of potential long term. It is almost a 5g+ EV + semi conductor play put in one stock. But when I re-visit the weekly chart, the stock looks weak and ready for a further correction unfortunately.
I am not saying holding this stock for a very long term at current price is bad. But I see it being a lagging stock for 2021.
I have a decision to make to either close my QCOM and re enter a better dip later this year, which I believe is coming. Or, HODL, relax and dollar cost.
I may end up going for the sell on this soon and reconsider an entry in future.
Good luck traders.
And the stock was between the 50 and 100MA at the time.... but this was a play that just didn't recover and I've been sleeping on it because I had planned it for the very long term.
Long term thesis: I think QCOM has a lot of potential long term. It is almost a 5g+ EV + semi conductor play put in one stock. But when I re-visit the weekly chart, the stock looks weak and ready for a further correction unfortunately.
I am not saying holding this stock for a very long term at current price is bad. But I see it being a lagging stock for 2021.
I have a decision to make to either close my QCOM and re enter a better dip later this year, which I believe is coming. Or, HODL, relax and dollar cost.
I may end up going for the sell on this soon and reconsider an entry in future.
Good luck traders.
Ghi chú
Haven't sold it as yet (as I didn't get it to a price I wanted.)I have, however, noticed an increase in volume for April calls for QCOM. I expect it will make a big move now, so will wait and see
Ghi chú
I decided to de-risk. Closed my position for a tiny loss @ 132$ price point.. I have instead taken an Apr call $150 strike to stay in a play in time for April earnings. This has played out nicely with my expectation so far, so fingers crossed.
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