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QCOM: Bearish Hammer at Resistance on the Weekly Timeframe

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QUALCOMM Incorporated (BATS:QCOM)  
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BATS:QCOM   QUALCOMM Incorporated
Chart Patterns Trend Analysis Technical Indicators semiconductors earningsplay qcomearnings bearishhammer Support and Resistance
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chartpattern trendanalysis indicator semiconductors earningsplay qcomearnings bearishhammer supportandresistance
There is a Bearish Hammer at weekly Resistance on QCOM with the RSI pushing back down from its second test of the overbought level. This seems like Bearish RSI BAMM that could lead to QCOM coming back into the support range around $120. As a result I'v decided to open Bear Call Spread spreads on QCOM to offset my Bullish AMD Call Spread.

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