Skip to main content
No. of Recommendations: 9
I was just curious on some opinions from those of you on this board that follow technical analysis. The discussion has been raised in regards to a 'gap up' on Qualcomm around the $65 range of not too long ago.

In spite of that, the last two appearances on CNBC by technical analyst, John Murphy, he has said that Qualcomm continues to be one of his favorite charts in the technology sector. Last night he drew the longer term downward trendline and spoke how Qualcomm broke through that on heavy volume to the upside. He then discussed the nice 7 month basing period and stated once again that the chart continues to be one of his favorites.

My question is, if Murphy makes all of these observations using his years of experience and knowledge of his system, why is that 'gap' not a concern to him? Or, why is it a concern to those on this board who continue to point it out? Are the two methods not related? As everyone knows, I'm pretty naive about gaps. My one and only attempt to buy an equity in the 'gap' were some additional shares of Juniper at $190 which I eventually got stopped out of and entered back into last week and set another stop to protect them. Anyway, I was just curious what makes Murphy overlook that gap...

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.