Qcom Elliott Wave Technical Analysis
Function: Trend.
Mode: Purifying.
Structure: Motivation.
Position: Wave {III} of 1.
Directions: Reverse to Wave 1.
Details: A wave {i}-{ii} structure appears to be completed, which sets the stage for further upside down. Support above $ 150 will boost the bullish outlook.
Qcom Elliott Wave Technical Analysis
Function: Trend.
Mode: Purifying.
Structure: Motivation.
Position: Wave (i) of {III}.
Directions: Upside down with waves {III}.
Details: After a three-wave corrective move, a five-wave impulsive increase suggests wave (I) constitutes the start of the wave {III}.
This review reviews Qualcomm Inc. (QCOM) by the theory of the Elliott Wave in both daily and 1-hour charts, outlining the current structure and potential development:
The sun -the -day chart of Qualcomm (QCOM) shows an initial phase of impulse with waves {i} and {II} that seems to be completed, pointing to the start of the wave {III}. A prolonged move above $ 150 will confirm an additional bullish momentum and will likely push the stock to a stronger phase of the rally.
In the 1-hour chart, Qualcomm (QCOM) appears to have completed a three-wave corrective pattern in the wave {II}, followed by a five-wave impulsive move that suggests the emergence of wave (I) of {III}. This setup is in line with the broader bullish trend and can provide a desirable pattern of continuity.
Technical analyst: Alessio Barretta.
Qcom Elliott Wave Technical Analysis [Video]
