Qualcomm Inc. Stock Code QCOM.NAS
Price broke below the cloud and reached a low of $123 on 8 March 2021. A second attempt at the low failed just above the previous low at $124.39. Last Friday, price broke above the Ichimoku reversal’s neckline at $135.44. This triggered an Ichimoku reversal just below the cloud. Conversion and Base lines had a bullish crossover last Friday, hinting of a bullish trend. Lagging Span is above price of 26 days ago but is below the cloud, unable to confirm the bullish trend. MACD had a bullish crossover earlier but is still in the bearish zone. We think price is likely to move higher to the Ichimoku reversal price target at $146.44 in the next 2-3 weeks.
$146.40 Price Target
$127.10 Risk Management Stop
3 weeks Trade Duration