QCOM Trade on Jul 30, 2020 10:45 from Cklamb: Tradervue User Stock Trades.

QCOM
Statistics
Total gain/loss: $9.97 Largest gain: $3.96 (show)

Average daily gain/loss: $9.97 Largest loss: $0.00
Average daily volume: 300 Average per-share gain/loss: $0.07
Average winning trade: $3.32 Average trade gain/loss: $3.32
Average losing trade: n/a Trade P&L standard deviation: $0.76
Total number of trades: 3 Profit factor: n/a
Number of winning trades: 3 (100.0%) Average hold time (winning trades): 2 minutes
Number of losing trades: 0 Average hold time (losing trades): 0
Max consecutive wins: 3 (show)
Max consecutive losses: 0
Average position MFE: $3.42 Average position MAE: $-1.29

Intraday Fundamentals
• 05:53 AM EDT, 07/30/2020 (MT Newswires) – Qualcomm (QCOM), the wireless technology company, reported fiscal third-quarter results that beat the market’s expectations amid a surge in its licensing business as well as a continued roll-out of the fifth generation mobile network, or 5G.
• Revenue was little changed at $4.89 billion during the three months that ended June 28, but above the adjusted average analyst sales estimate compiled by Capital IQ of $4.8 billion. Fiscal 2019 third-quarter sales have been adjusted for $4.7 billion of sales from a settlement with Apple and its contract manufacturers, the firm said after the market close on Wednesday.
• San Diego, Calif.-based Qualcomm’s unit that develops and supplies integrated circuits and system software and accounts for a bulk of group revenue saw sales jump by 7% year-over-year. Its licensing business surged by 19%.
• Proforma earnings of $0.86 per share were also higher than the market projections of $0.71 per share and above the $0.80 per share recorded a year ago, with the increase due in part to lower costs and expenses of more than $200 million.
• “As 5G continues to roll out, we are realizing the benefits of the investments we have made in building the most extensive licensing program in mobile and are turning the technical challenges of 5G into leadership opportunities and commercial wins,” Chief Executive Steve Mollenkopf said in an earnings statement.
• Earlier this month, Qualcomm signed another settlement agreement and a new long-term, global patent license deal with the Chinese firm, Huawei Technologies, covering sales beginning Jan. 1. The company said its guidance for the fiscal fourth quarter includes licensing revenue from royalties due on sales made by Huawei in the forthcoming September quarter.
• The forecast also incorporates a hit to earnings of more than $0.25 per share from a 15% year-over-year slump in handset shipments and a partial impact of the global delay to its 5G flagship phone launch off the back of the COVID-19 pandemic.
• In line with those adjustments, Qualcomm expects proforma earnings per share to come in a range of $1.05 to $1.25 in its fiscal fourth quarter. Adjusted sales are seen ranging between $5.5 billion and $6.3 billion. The market’s expectations were for earnings of $1.09 per share and $5.76 billion of revenue.
• “We delivered earnings above the high end of our range, continued to execute in our product and licensing businesses, and entered into a new long-term patent license agreement with Huawei, all of which position us well for the balance of 2020 and beyond,” Mollenkopf said.
Technicals
ADV 9.2 RVOL 1.14 ATR 2.36 BETA 1.33 Inst Own 77.60% Inst Own 77.6%
Daily Chart

Hourly Chart

Intra Chart

Trading Strategy
• 102 long if this moves to the PM low and holds, long off 105 if it starts to hold
• This will open at and ATH and over all levels you will have the PM and the opening ranges to work on
• Stay on the same side of VWAP of the levels that set up after the open
• Scalps off VWAP early and for move 2 move later in the day
Reading the Tape

Trade Management

Trade Notes
947 est I really was off the AM game plan on this long. I needed to work this off the 102 like I had planned and try and catch the spike below. However, this techically set up leaving a full gap or half gap close off the table once it had spiked into 101. There was also the thought that a lot of ATHs in the PM fail and do not typically make new highs after the open. I need to find away to find get some real statistics on this. However, this is a small scalp that I am pretty comfortable taking usually to help me get the first trade jitters out of the way. This is also the same trade that can get me in trouble sometimes when and if I add to often or too quickly.
952 EST
I need to watch this tape. This was an attempt to get the third test of 103. I should not have added to this trade this trade unless I had something on the tape. I should have been out at .98. I also need to figure out to not take .10 when I am looking for a break of 103. This was a lucky win.

1047 EST
I had a few different things going on here. There was definitely a tape read used with and intraday level using the last high before the last small pull back or about 104.50. I could have held this until 105 or the PM High that had just been tested as it was the original plan.