This analysis explores QUALCOMM Inc. (QCOM) using Elliott Wave Theory across both the daily and 1-hour timeframes, identifying the current wave structure and highlighting potential price movements:
QUALCOMM Inc. (QCOM) Elliott Wave Analysis - TradingLounge Daily Chart
QUALCOMM Inc. (QCOM) Daily Chart Analysis
QCOM Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Wave {iii} of 1
DIRECTION: Upside in Wave 1
DETAILS: QUALCOMM stock (QCOM) completed a clear {i}-{ii} wave pattern. Price holding above $150 would reinforce a bullish continuation scenario, supporting further gains in the upcoming sessions.
QCOM Elliott Wave Technical Analysis – Daily Chart
The daily chart for QUALCOMM (QCOM) displays an emerging bullish trend under Elliott Wave principles. Waves {i} and {ii} have likely finished, initiating the development of wave {iii}. A decisive move above the $150 level would validate the bullish Elliott Wave structure and could accelerate QCOM’s rally into higher zones, strengthening the stock's technical outlook.
QUALCOMM Inc. (QCOM) Elliott Wave Analysis - TradingLounge 1h Chart
QCOM Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Wave (i) of {iii}
DIRECTION: Upside in Wave {iii}
DETAILS: On the lower timeframe, QCOM completed a three-wave correction. A five-wave impulsive structure appears underway, marking the beginning of wave (i) of {iii}.
QCOM Elliott Wave Technical Analysis – 1H Chart
On the 1-hour chart, QUALCOMM (QCOM) reveals a completed corrective pattern in wave {ii}, followed by a strong five-wave impulsive advance. This wave development indicates the likely formation of wave (i) of {iii}, confirming alignment with the broader bullish trend visible on the daily chart. The current setup in QCOM stock enhances the probability of continued upside momentum, making it an attractive technical setup for trend-following strategies.
Technical Analyst: Alessio Barretta
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