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|It was the first negative week for the QUALCOMM Inc. (QCOM). During the week, the QCOM dropped -2.05 points, or -2.96%, and closed at 67.11 on Friday, April 17, 2015. Weekly volume was 51% above average. |
Long-term trend: [See QCOM long-term trend chart]
A long-term downtrend had started on July 23, 2014 at 81.97 and reached 62.26 on February 2, 2015. QCOM lost 19.71 points, or 24.05%, in 27 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 57.88 and resistance is at 74.82. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
Medium-term trend: [See QCOM medium-term trend chart]
A medium-term downtrend had started on March 10, 2015 at 74.09 and reached 65.68 on March 26, 2015. QCOM lost 8.41 points, or 11.35%, in 2 weeks. The price is now at the 17.00% retracement level.
Weekly Technical Indicators: [See QCOM weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 20, 2015. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 April 6, 2015 at 66.18 and reached 71.90 on April 13, 2015. QCOM gained -5.72 points, or -8.64%, in 7 days. The price is now at the 83.74% retracement level.
Daily Technical Indicators: [See QCOM daily technical indicators chart]
Daily technical indicators are neutral.
The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 declined below 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.