QCOM rises to highest close since March 20th

QUALCOMM Incorporated (QCOM) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team


QCOM closes higher for the 2nd day in a row
QCOM pushes through previous session high
QCOM rises to highest close since March 20th


Moving higher for the 2nd day in a row, QCOM ended Thursday at 56.95 gaining $0.25 (0.44%). Today's closing price of 56.95 marks the highest close since March 20th. Closing above Wednesday's high at 56.81, Qualcomm confirms its breakout through the prior session's high having traded $0.57 above it intraday.

Daily Candlestick Chart (QCOM as at May 17, 2018):

Daily technical analysis candlestick chart for QUALCOMM Incorporated (QCOM) as at May 17, 2018

Thursday's trading range was $0.98 (1.73%), that's below last trading month's daily average range of $1.34. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Prices are trading close to the key resistance level at 57.80.

Although the stock is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Buying might accelerate should prices move above the nearby swing high at 57.80 where further buy stops could get activated.

Market Conditions for QCOM as at May 17, 2018

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