Everyone knows what happened to QCOM in the year 2000. Here is how the legend looked in the infancy of its run.
In February QCOM was very much trading sideways. on the 22nd it surged. It then consolidated but held the 10day. on the 27 it had massive volume, followed by even heavier volume the next day.
Take aways
- When a stock has a strong move and consolidates without pulling back it often has more in store
- when a stock follows an initial power move with an even stronger breakout there is some serious momentum in the name.
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