I have a downside target of WFR or 21 with support
at 30 and 26. You should get a bounce from this level. Look for
resistance at 34 and it will have to take out 39 for a major move up. I would
need a price of 32 to go long on a retracement and the long would be very
short lived. First price objective would be 33 3/8, I am still
old school with prices with a target price of 36 9/16.
QCOM is in a similar position. I have it at
support here with a downside target of 38 3/4. I would need a price of 42
to go long here with less then a point for the price objective and an upside
target of 44+.
It appears that you are going long off of support
levels which appear to be my intermediate price objectives. I would be
exiting shorts at these levels and waiting for price to prove to me that there
is a direction change, a retracement, or a continuation of the move.
On each of these retracements there are
intermediate price objectives that could act as resistance to halt price
action.
Hope that this helps a little. Once again,
just one man's opinion. Ira.
PS. You got my neck sticking out again.
Have a good week.