The Greedy Trader Weekly Analysis
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Archive
- 10/24/2014
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QUALCOMM Inc.
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Summary:
Weekly :
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtPrice has crossed above the 50 Day Moving AverageDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARBroken trend resistance lineThe price moved above the moving average in the center of the Bollinger Bands
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It was a second positive week after 3 consecutive negative weeks for the QUALCOMM Inc. (QCOM). During the week, the QCOM gained 3.57 points, or 4.93%, and closed at 76.00 on Friday, October 24, 2014. Weekly volume was -18% below average.

Long-term trend: [See QCOM long-term trend chart]
A long-term uptrend had started on November 21, 2008 at 28.16 and reached 81.97 on July 23, 2014. QCOM gained -53.81 points, or -191.09%, in 295 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 70.00 and resistance is at 81.55. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.

Medium-term trend: [See QCOM medium-term trend chart]
A medium-term downtrend had started on July 23, 2014 at 81.97 and reached 69.36 on October 16, 2014. QCOM lost 12.61 points, or 15.38%, in 12 weeks. The chart has formed a Falling Wedge chart pattern. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See QCOM weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since May 16, 2014. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See QCOM short-term trend chart]
A short-term downtrend had started on September 19, 2014 at 77.00 and reached 69.36 on October 16, 2014. QCOM lost 7.64 points, or 9.92%, in 27 days. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (67.38) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. QCOM may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.

Daily Technical Indicators: [See QCOM daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.13
Williams' Percentage Range (W%R) 8.90
Strong Overbought
Lane's Stochastic (%D-Slow) 88.14
Overbought
Greed/Fear Indicator (GFI) 77.80
Moving Average Converg./Diverg. (MACD) -0.57
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.26
Williams' Percentage Range (W%R) 51.90
Lane's Stochastic (%D-Slow) 43.39
Greed/Fear Indicator (GFI) 48.15
Moving Average Converg./Diverg. (MACD) -0.21 Bullish
Trading Signals
Description Value Chart
Yearly Trendline Resistance 81.55
Upper Bollinger Band 77.11
Monthly Trendline Resistance 76.61
Price 76.00
Daily Stochastic Crossing 75.62
50 Day Moving Average 74.92
Weekly Trendline Resistance 73.97
20 Day Moving Average 73.59
Weekly Stochastic Crossing 72.60
Lower Bollinger Band 70.82
Parabolic System 70.03
Yearly Trendline Support 70.00
Monthly Trendline Support 69.31
Weekly Trendline Support 67.38
Sector and Industry
Description Name Rank
Sector Technology 4
Industry Communication Equipment 67
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 69.36
Low Date 10/16/2014
High 76.01
High Date 10/24/2014
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Resistance
Resistance 73.97
Support 67.38
High 77.00
High Date 09/19/2014
Low 69.36
Low Date 10/16/2014
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Resistance
Resistance 76.61
Support 69.31
High 77.31
High Date 08/21/2014
Low 69.36
Low Date 10/16/2014
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status
Resistance
Support
High 81.97
High Date 07/23/2014
Low 69.36
Low Date 10/16/2014
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 81.55
Support 70.00
Low 28.16
Low Date 11/21/2008
High 81.97
High Date 07/23/2014
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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