QCOM Breakout
- Breaking out of 3-year base (purple box)
- It may or may not retest the breakout level (red arrow) similar to late 2011
- This is long-term bullish signal
- 3-to-5 years primary-term bullish run is expected
Overbought
- This is a short-to-mid term bearish signal
- Indicator insinuating (see red arrows) potential pullback
- IF it pulls back to 68 - 70 level, it might be a good level to buy that dip
DIisclosure: I own SHARES of QCOM since 55ish
*Below chart was screened on 5/11/2018 when QCOM was trading at 55.46