dont feel like explaining but buy qualcomm calls asap. Just trust me brehs.
i decided to buy facebook calls yesterday instead of QCOM (a week later than i wanted - wedge reversal)...my money is tied up til monday but believe me. QCOM and FB are displaying very short term bullish patterns brehs. VERY.
FB might hit 30 (depending on earnings) and QCOM easily can hit 66 in the next month.
Both are falling wedge reversals and QCOM remains very oversold. Theres no reason it shoulda dropped since earnings so much.
If you must, go on google finance and expand to the larger chart. Zoom out 1 and 3 months and tell me you dont see a pattern for QCOM.
For facebook youd have to zoom out 3 months and its like a hybrid between a falling wedge and then ascending triangles. A pennant is probably more accurate i dunno.
Falling Wedge (Reversal) - ChartSchool - StockCharts.com
Ascending Triangle (Continuation) - ChartSchool - StockCharts.com