Qualcomm chart analysis

  • Qualcomm (QCOM) has had some rough months, with some gaps up and down.
  • 38,4 is the support level for preventing to close Gap 3
  • 39,7 is the resistance level to break in order to rise and close Gap 2
  • If Gap 2 is closed, a break of resistance level of 43 is needed to close Gap 1. This could be realistic, as with closing gap 2, the 200d MA is also attained.

The weekly chart makes abstraction of the gaps and shows a downtrend that is being broken.

Closing gap 2, with a weekly close above the 200d MA of 40 seems a good entry point to do a first test on higher levels

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