Qualcomm Inc stock reclaim 50 day ema with big bullish candle, indicating short term trend reversal.
Supertrend generated buy signal, MACD sustaining above zero line and RSI indicating more strength in coming days.
Qualcomm Inc stock has been reversing upwards with mild bullish cues, after forming a bullish engulfing candle. The stock reclaimed the 200 week ema and had gained some positive momentum. Currently, the stock is up by 3.73% on a weekly basis and likely to breakout on a higher side.
Weekly time frame narrative
Source : NASDAQ : QUALCOMM daily chart by Tradingview
On a weekly time frame, Qualcomm Inc stock has been in downtrend and slipped below both the 50 and 200 week exponential moving averages which has derived a negative sentiment in the past couple of months. Recently, in November first week qualcomm formed a bullish engulfing candle and reclaimed 200 weeks ema(green) at $120 indicates genuine buyers are accumulating the stock at lower levels and expecting a more upsi
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