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|It was the negative week for the QUALCOMM Inc. (QCOM). During the week, the QCOM gave back -0.58 points, or -0.89%, and closed at 64.82 on Friday, August 10, 2018. It was the worst weekly loss since June 29, 2018. Weekly volume was -25% below average. |
Long-term trend: [See QCOM long-term trend chart]
A long-term uptrend had started on February 11, 2016 at 42.24 and reached 71.62 on October 27, 2016. QCOM gained -29.38 points, or -69.55%, in 37 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 50.45 and resistance is at 67.74. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.
Medium-term trend: [See QCOM medium-term trend chart]
A medium-term uptrend had started on June 28, 2018 at 55.09 and reached 66.02 on August 6, 2018. QCOM gained -10.93 points, or -19.84%, in 5 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (60.09) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 resistance line in a medium-term trend.
Weekly Technical Indicators: [See QCOM weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. 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 Williams' Percentage Range help.
The weekly MACD line is above its signal line since June 1, 2018. 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 downtrend had started on August 6, 2018 at 66.02 and reached 64.49 on August 10, 2018. QCOM lost 1.53 points, or 2.32%, in 4 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See QCOM daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since July 9, 2018. The distance between MACD and the signal line is low and getting smaller.