The Greedy Trader Weekly Analysis
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Archive
- 8/22/2014
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QUALCOMM Inc.
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Summary:
Weekly :Overbought sectorTrend support at 77.19
Daily :Williams' Percentage Range and Lane's Stochastic are strongly overboughtPrice is close to the 50 Day Moving AverageThe price moved above the moving average in the center of the Bollinger Bands
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It was a third positive week after 4 consecutive negative weeks for the QUALCOMM Inc. (QCOM). During the week, the QCOM gained 2.41 points, or 3.24%, and closed at 76.82 on Friday, August 22, 2014. It was the best weekly gain since April 17, 2014. Weekly volume was -19% below average.

QCOM is a member of Technology Sector. Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

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 68.69 and resistance is at 80.33. 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 uptrend had started on July 17, 2012 at 53.09 and reached 81.97 on July 23, 2014. QCOM gained -28.88 points, or -54.40%, in 105 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (77.19) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line 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. The distance between MACD and the signal line is relatively high, but getting smaller. Use the following link to access a MACD help.

Short-term trend: [See QCOM short-term trend chart]
A short-term uptrend had started on August 1, 2014 at 71.82 and reached 77.31 on August 21, 2014. QCOM gained -5.49 points, or -7.64%, in 20 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 74.99 and resistance is at 77.47. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See QCOM daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. 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.

The daily MACD line is above its signal line since August 12, 2014. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

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.

Price is close to the 50 Day Moving Average. While 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) 74.52
Williams' Percentage Range (W%R) 2.40
Strong Overbought
Lane's Stochastic (%D-Slow) 91.69
Strong Overbought
Greed/Fear Indicator (GFI) 87.95
Overbought
Moving Average Converg./Diverg. (MACD) -0.90
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.05
Williams' Percentage Range (W%R) 47.20
Lane's Stochastic (%D-Slow) 27.10
Greed/Fear Indicator (GFI) 41.71
Moving Average Converg./Diverg. (MACD) 1.15
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 82.02
Yearly Trendline Resistance 80.33
Upper Bollinger Band 78.31
50 Day Moving Average 77.49
Weekly Trendline Resistance 77.47
Quarterly Trendline Support 77.19
Daily Stochastic Crossing 76.99
Price 76.82
Weekly Trendline Support 74.99
20 Day Moving Average 74.57
Parabolic System 74.22
Weekly Stochastic Crossing 73.99
Lower Bollinger Band 72.95
Yearly Trendline Support 68.69
Sector and Industry
Description Name Rank
Sector Technology 9
Industry Communication Equipment 18
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 74.55
Low Date 08/20/2014
High 77.31
High Date 08/21/2014
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 77.47
Support 74.99
Low 71.82
Low Date 08/01/2014
High 77.31
High Date 08/21/2014
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 81.97
High Date 07/23/2014
Low 71.82
Low Date 08/01/2014
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 82.02
Support 77.19
Low 53.09
Low Date 07/17/2012
High 81.97
High Date 07/23/2014
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 80.33
Support 68.69
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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