Bears Tighten Grip on QCOM Below $158.53
The stock of Qualcomm Inc (QCOM) dropped 1.39% to close at $158.53 on August 24.
Technical indicators paint a mixed picture:
Moving Averages
Price sits below both the 9-day ($161.11) and 21-day ($163.84) EMAs, suggesting short-term weakness.
Momentum
RSI at 41.1 is showing no strong directional bias. MACD reads -4.10 against its -5.12 signal line (bullish).
Volatility
Volatility has been compressing for 4 sessions (TTM Squeeze active), often a precursor to directional moves.
Despite the bearish EMA structure, bullish MACD divergence suggests patient buyers may find opportunity near $150.16.
Support sits at $150.16 with resistance at $169.90.
