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Downtrend Broken Resist.Archive
- 4/5/2024 -
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QUALCOMM Inc. (QCOM) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the QUALCOMM Inc. (QCOM). During the week, the QCOM gained 2.23 points, or 1.32%, and closed at 171.53 on Friday, April 5, 2024. Weekly volume was -14% below 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 uptrend had started on May 25, 2023 at 101.47 and reached 177.59 on March 7, 2024. QCOM gained -76.12 points, or -75.02%, in 41 weeks. The price is now at the 7.96% 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 price is near the trend support (170.54) 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 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. 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 weekly MACD line is above its signal line since November 3, 2023. This is an indication that the medium-term trend is up. 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 chart has formed a Rising Channel chart pattern. The uptrend support line (172.93) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a short-term trend.
 Daily Technical Indicators: [See QCOM daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 15, 2024. The distance between MACD and the signal line is low and getting smaller.
The distance between the Bollinger Bands is falling, and it was 5.34% on Friday. It is 60.45% lower than one year average. It indicates the period of low volatility of the stock price. 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.
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