QCOM closes above its opening price after recovering from early selling pressure


QUALCOMM Inc. (QCOM) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
QCOM closes above its opening price after recovering from early selling pressure
QCOM closes lower for the 4th day in a row
QCOM breaks below previous session low
QCOM falls to lowest close since August 2nd
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

Moving lower for the 4th day in a row, QCOM ended the week -0.89% lower at 64.82 after losing $0.26 (-0.4%) today. Today's closing price of 64.82 marks the lowest close since August 2nd. Trading up to $0.16 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing below Thursday's low at 64.92, the market confirms its breakout through the prior session's low having traded $0.43 below it intraday.

Daily chart for QCOM
Volatility

Friday's trading range was $0.44 (0.68%), that's far below last trading month's daily average range of $1.05. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for QUALCOMM Inc.
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
4 Consecutive Higher Closes TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
Bearish Spinning Top TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

QCOM ends the day indecisive

Aug 16, 2018
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