QCOM closes above its opening price after recovering from early selling pressure
QUALCOMM Incorporated (QCOM) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (QCOM as at Aug 10, 2018):
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.