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Downtrend Broken Resist.Archive
- 4/19/2024 -
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QUALCOMM Inc. (QCOM) Technical Analysis
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| Summary:
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| | It was the negative week for the QUALCOMM Inc. (QCOM). During the week, the QCOM dropped -13.66 points, or -7.97%, and closed at 157.63 on Friday, April 19, 2024. QCOM was trading at average weekly trading volume.
 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 26.22% 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 uptrend support line (179.01) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. QCOM may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.
 Weekly Technical Indicators: [See QCOM weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 link to access Lane's Stochastic 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 low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 March 7, 2024 at 177.59 and reached 156.34 on April 19, 2024. QCOM lost 21.25 points, or 11.97%, in 43 days. The price is now at the 6.07% retracement level.
 Daily Technical Indicators: [See QCOM daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic.
The daily MACD line is below its signal line since March 15, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
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.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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 crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support 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.
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