📈 QCOM (Qualcomm) Daily Review: Bottoming Reversal Confirmed, Bulls Sound the Rallying Cry!
Hello everyone, I'm a trader focused on technical analysis. Today, let's mix things up and take a look at a special asset—a tokenized US stock, QCOM (Qualcomm). Although it's a traditional US stock, the principles of technical analysis still apply. Its recent price action has been a textbook example.
Trend and Structure: Rounded-Bottom Reversal, Bulls Advance Steadily
On the higher time frame, QCOM went through a brutal valuation sell-off, falling from 255.25 all the way to 143.00 before bottoming out. But the subsequent price action has been very steady. Rather than staging an extreme “V-shaped reversal,” it formed a solid ascending channel, with successive higher highs and steadily rising lows. After its latest pullback to around 160, the stock stabilized once again, confirming that the medium-term bullish trend is firmly established. $QCOM $SPY
Hello everyone, I'm a trader focused on technical analysis. Today, let's mix things up and take a look at a special asset—a tokenized US stock, QCOM (Qualcomm). Although it's a traditional US stock, the principles of technical analysis still apply. Its recent price action has been a textbook example.
Trend and Structure: Rounded-Bottom Reversal, Bulls Advance Steadily
On the higher time frame, QCOM went through a brutal valuation sell-off, falling from 255.25 all the way to 143.00 before bottoming out. But the subsequent price action has been very steady. Rather than staging an extreme “V-shaped reversal,” it formed a solid ascending channel, with successive higher highs and steadily rising lows. After its latest pullback to around 160, the stock stabilized once again, confirming that the medium-term bullish trend is firmly established. $QCOM $SPY
