QCOM was down big today making a solid gap down below the rising channel on this daily chart.  based on what i see, i believe that the odds are very good that QCOM will continue lower (that doesn’t mean it has to go straight down, of course) until it hits that key support area (yellow line) around 59.70.  i know that i’ve posted quite a bit more short set-ups than long set-ups in the past few weeks so this one’s for those who are looking for an objective long candidate to buy on a pullback.  QCOM would be an objective long entry just above that support line, (59.80 to just over 60.00, to avoid missing an entry if the buyers jump in early) with a stop not too far below the support level.  of course, the flip-side is that QCOM might also prove to be a nice short trade on a solid break of that support level, further confirmed by the negative divergences in place on the weekly chart, also below.