QCOM Consolidation Compresses at $165.41
The stock of Qualcomm Inc (QCOM) climbed 5.53% to close at $165.41 on November 9.
Chart analysis reveals a bearish configuration:
Moving Averages
The stock trades below its 9-day EMA ($168.51) with the 21-day ($172.84) acting as overhead resistance.
Momentum
RSI at 44.5 is neutral but improving. MACD reads -3.74 against its -2.21 signal line (bearish).
Volatility
Volatility has been compressing for 11 sessions (TTM Squeeze active), often a precursor to directional moves.
Traders are watching $158.71 on the downside and $188.20 on the upside.
