Short-Sale Set Up - Qualcomm (QCOM) 12/17/21
| Published: | 18 Dec 2021 11:06 ET |
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.
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.