Qualcomm (QCOM) has been a leading semiconductor name making new highs as of late. It attempted a breakout attempt on Wednesday in synchrony with the now-failed and phony Follow-Through Day (FTD) but immediately reversed and failed itself on Thursay. Friday's close below the 20-day exponential moving average serves as initial confirmation of a potential late-stage failed-base (LSFB) short-sale set-up in progress. In this case, the 20-dema would serve as a tight covering guide with the 10-day line as a slightly wider covering guide. The success of this short-sale set-up will likely depend on on whether we see continued general market selling this coming week.
Short-Sale Set Up - Qualcomm (QCOM) 12/17/21
|18 Dec 2021 11:06 ET
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