QCOM Elliott Wave technical analysis [Video]
|QCOM Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave {iii} of 1.
Direction: Upside in wave 1.
Details: A wave {i}-{ii} structure appears completed, setting the stage for further upside. Support above $150 would strengthen the bullish outlook.
QCOM Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave (i) of {iii}.
Direction: Upside in wave {iii}.
Details: After a three-wave corrective move, a five-wave impulsive rise suggests wave (i) is forming at the start of wave {iii}.
This analysis examines QUALCOMM Inc. (QCOM) through Elliott Wave Theory on both the daily and 1-hour charts, outlining current structure and potential developments:
The daily chart of QUALCOMM (QCOM) shows an initial impulse phase with waves {i} and {ii} seemingly completed, pointing to the start of wave {iii}. A sustained move above $150 would confirm further bullish momentum and likely propel the stock into a stronger rally phase.
On the 1-hour chart, QUALCOMM (QCOM) appears to have ended a three-wave corrective pattern in wave {ii}, followed by a five-wave impulsive move suggesting the emergence of wave (i) of {iii}. This setup aligns with the broader bullish trend and could provide a favorable continuation pattern.
Technical analyst: Alessio Barretta.
QCOM Elliott Wave technical analysis [Video]
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