The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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QUALCOMM Inc. (QCOM) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are overboughtStochastic has declined below the signal lineRelative Strength Index, Lane's Stochastic and MACD bearish divergence
Daily :Stochastic signal line moved below overbought areaThe price has fallen below the Parabolic SAR
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It was the negative week for the QUALCOMM Inc. (QCOM). During the week, the QCOM dropped -3.37 points, or -1.98%, and closed at 167.20 on Friday, March 15, 2024. Weekly volume was 16% above average.

QCOM is a member of Information Technology Sector. Information Technology is the second 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 downtrend had started on January 5, 2022 at 193.58 and reached 101.47 on May 25, 2023. QCOM lost 92.11 points, or 47.58%, in 72 weeks. The price is now at the 71.36% retracement level.

Medium-term trend: [See QCOM medium-term trend chart]
A medium-term uptrend had started on October 26, 2023 at 104.33 and reached 177.59 on March 7, 2024. QCOM gained -73.26 points, or -70.22%, in 19 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 161.91 and resistance is at 179.54. 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 medium-term trend.

Weekly Technical Indicators: [See QCOM weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Weekly Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 3, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 February 2, 2024 at 139.26 and reached 177.59 on March 7, 2024. QCOM gained -38.33 points, or -27.52%, in 34 days. The price is now at the 27.11% retracement level.

Daily Technical Indicators: [See QCOM daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

The daily MACD line is above its signal line since February 9, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.74
Williams' Percentage Range (W%R) 36.60
Lane's Stochastic (%D-Slow) 59.02
Greed/Fear Indicator (GFI) 61.06
Moving Average Converg./Diverg. (MACD) 5.38
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.14
Bearish
Williams' Percentage Range (W%R) 14.30
Overbought
Lane's Stochastic (%D-Slow) 85.12
Overbought Bearish
Greed/Fear Indicator (GFI) 76.67
Moving Average Converg./Diverg. (MACD) 8.55 Bearish
Trading Signals
Description Value Chart
Monthly Trendline Resistance 179.54
Upper Bollinger Band 178.18
Parabolic System 177.77
Weekly Stochastic Crossing 172.33
Daily Stochastic Crossing 171.74
Price 167.20
20 Day Moving Average 162.48
Monthly Trendline Support 161.91
50 Day Moving Average 152.74
Lower Bollinger Band 148.18
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry Semiconductors 59
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 177.59
High Date 03/07/2024
Low 165.85
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 139.26
Low Date 02/02/2024
High 177.59
High Date 03/07/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 179.54
Support 161.91
Low 104.33
Low Date 10/26/2023
High 177.59
High Date 03/07/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 101.47
Low Date 05/25/2023
High 177.59
High Date 03/07/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 193.58
High Date 01/05/2022
Low 101.47
Low Date 05/25/2023
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.