Brian Shannon on $QCOM (Oct 27, 2026)
Shannon bought QCOM today on a cup-and-handle setup: the 20-day average is turning up above the 50-day after a pullback, and the daily chart holds the 200-period average well. He would sell some remaining shares near 200, about 9% above current levels, not wait for completion to buy.
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And I bought Qualcomm today. Qualcomm? Yeah. It looks like its 20- day moving average is going to start going up again. The 20- day is above the 50-day. It has a big There was a pullback.
If you look at it, pattern analysts call it a 'cup and handle' pattern.
And if that's the case, you don't wait for the cup and handle to complete at 200. In my opinion, that's a place where I can be a big seller — not a big one, but I'll sell some of what I have left if it gets there .
Because, breaking the 200 level means going up 9% from here . Why would you wait for a 9% move before you buy it? To me , that's where the inexperienced investors buy. So, I want to sell some there if it gets to that point , before I stop .
Yeah, that's a great thing because I think if you look at it on the daily chart with the 50 and 200 periods, it's holding the 200 period very well. So, I like that call from Qualcomm.