QCOM Trade on Apr 30, 2020 09:51 from Cklamb: Tradervue User Stock Trades.

QCOM
Statistics
Total gain/loss: $39.14 Largest gain: $17.10 (show)

Average daily gain/loss: $39.14 Largest loss: $-6.88 (show)

Average daily volume: 940 Average per-share gain/loss: $0.08
Average winning trade: $9.20 Average trade gain/loss: $6.52
Average losing trade: $-6.88 Trade P&L standard deviation: $8.00
Total number of trades: 6 Profit factor: 6.69
Number of winning trades: 5 (83.3%) Average hold time (winning trades): 27 minutes
Number of losing trades: 1 (16.7%) Average hold time (losing trades): less than 20 seconds
Max consecutive wins: 5 (show)
Max consecutive losses: 1 (show)

Average position MFE: $10.92 Average position MAE: $-5.29

Intraday Fundamentals
• Wireless chip maker Qualcomm Inc. reported a nearly 5% revenue increase in the March quarter, as the chip business offset a slight revenue decline in its licensing arm.
• The San Diego -based company shipped 129 million chips in the quarter, a roughly 17% decline from the previous quarter but within its guidance of 125 million to 145 million.
• The mobile-chip giant warned in February that while it projected fewer chip shipments in the quarter, it expected the money it made per chip "to be meaningfully higher," driven by launches of fifth-generation, or 5G, wireless technology devices.
• On Wednesday, Qualcomm said the coronavirus pandemic led to a roughly 21% decline in handset demand compared with its projections and cut its guidance for the current quarter by about 30%, projecting 125 million to 145 million in chip shipments.
• Overall, Qualcomm reported a second-quarter profit of $468 million , or 41 cents a share. On an adjusted basis, profit rose to 88 cents a share from 77 cents a share a year earlier.
• Meanwhile, revenue rose to $5.22 billion from $4.98 billion a year earlier.
• The results beat Wall Street expectations for adjusted profit and revenue, according to FactSet.
• This quarter, Qualcomm expects 29 cents to 49 cents a share in profit, or 60 cents to 80 cents a share on an adjusted basis, and $4.4 billion to $5.2 billion in revenue. Analysts expect 57 cents a share, or 78 cents a share as adjusted, on $4.89 billion in revenue.
• Qualcomm Chief Executive Steve Mollenkopf said the 5G road map remained intact, even if some handset makers might change the timing of handset launches due to the pandemic and the resulting drop in demand. The company was keeping its 2020 estimate of 5G global handset shipments unchanged, he said.
• Last year, the company projected between 175 million and 225 million units.
• The recovery in China after the virus subsided there, he added, could indicate how demand returns in other countries.
• " China had a pretty deep dip and is really well along the way to recovery now," he said. "You can apply a similar type of model basis to the rest of the world."
• Qualcomm said it reached new patent licensing agreements with Chinese handset makers Oppo and Vivo, effective April 1 following delays in payments from them under prior agreements as negotiations for new deals progressed. There was no change in a long-running license-fee dispute with Chinese telecom giant Huawei Technologies Co. , from which the company said it hadn't received any revenues in the six months through March 29 , the end of the second quarter. Negotiations toward a licensing agreement are continuing, however.
• Shares, which in January traded near $100 record levels, closed Wednesday at $78.97 and rose 2% to $80.79 in after-hours trading.
Technicals
ADV 12.05m RVOL .96 ATR3.48 BETA 1.39 Short 1.32% Inst Own 79.20%
Daily

Hourly

Intra

Trading Strategy
• Look for an opening long off 79 depending on the opening strength
• If it looks like it is going to follow the market, look for the action at 78.50 and see if it is supportive
• Break out long at 80.50
Reading the Tape
Trade Management

Trade Notes
I had a long bias on this and was looking to take a long at 79. I got a bit anxious as I had not anticipated a spike to the PM high. As it came back, I thought I saw some strength that 80 would hold as a level that I had coming off some recent trading action on the hourly. I got beat on this one pretty quickly. I was on a longer time frame chart than I should have been for this trade. I doubt that would have made a difference. However, this trade did knock me out of the long bias for the opening though as the break down after this trade was quick and furious.
I set out to short on this with 2 to one set ups and hit the second after taking the first on a little early or a little tighter than it needed to work. I also bailed a little early on the second trade as I was running 20-40 at the time. This means that even this early and my trying to let certain trades run full. An off level short like this should have had a 2.5 to 1 which I will program into the order set up.
I had both 78 and 78.50 as prior day levels that I felt would be in play. These two levels more or less framed yesterday's trading range. I felt 78 was a good long as I had vaguely outlined pre-market. I did manage to asses risk off 77.50 and set up for a solid 2 for 1 after taking a loss looking for it to hold with out the flush below. I took a long looking for 78.50 to break and extend into VWAP that failed. I worked it again at 78.25 and finally hit it this off the end of the consolidaton period. It moved in a manner that I removed that bracket took a partial at 1 for 1 and put the stop at BE and follow it up until there was weakness which was still to early on this one.
I overmanaged the second trade here. A solid trade off a what ended up being a doubt top. this trade would have worked all the way into the close.
I started of with 15 cents on this and felt it was losing moment. I canceled the bracket and took a ten cents partial and set the stop at BE as I did not think this was going to actually trade under 79 as it had stayed stable around 79.10 for a little bit. I think that if I had a 1.5 to 1 set up.
I started off with 15 cents on this and felt it was losing moment. I canceled the bracket and took a ten-cent partial and set the stop at BE as I did not think this was going to actually trade under 79 as it had stayed stable around 79.10 for a little bit. I think that if I had a 1.5 to 1 set up.
A well managed long. I got to small but i did try to add looking for break on 79. I was hoping for a break of VWAP and the forever long into the end of day.

I had both 78 and 78.50 as prior day levels that I felt would be in play. These two levels more or less framed yesterday's trading range. I felt 78 was a good long as I had vaguely outlined pre market. I did manage to asses risk off 77.50 and set up for a solid 2 for 1 after taking a loss looking for it to hold without the flush below. I took a long looking for 78.50 to break and extend into VWAP that failed. I worked it again at 78.25 and finally hit it this off the end of the consolidaton period. It moved in a manner that I removed that barcket took a partial at 1 for 1 and put the stop at BE and follow it up until there was weakness which was still to early on this one.