QCOM pops to highest close since June 22nd
QUALCOMM Inc. (QCOM) Technical Analysis Report for Jul 13, 2018
Moving higher for the 2nd day in a row, QCOM ended the week 0.95% higher at 58.39 after edging higher $0.07 (0.12%) today on low volume. Today's closing price of 58.39 marks the highest close since June 22nd. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was $0.60 (1.03%), that's far below last trading month's daily average range of $1.08. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 57.80.
While still in a long-term downtrend, the short and medium-term trends both turned bullish already.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.