Qualcomm $QCOM | Bullish Falling Wedge Breakout

Jul 26, 2023

QCOM continues pushing to the upside since breaking out of a bullish falling wedge pattern (RSI divergence confirmation).

The current bullish wave has developed within a flag structure setting higher highs and higher lows.

Pay attention to how price reacts at the upper resistance of the flag.
1) If price manages to breakout above the upper resistance of the flag I expect it to continue to ~$132.
2) If, however, price cannot manage to break above the flag resistance we may see price test the ~$105-$110 area which will provide an alternative buying opportunity.

I will update as price action develops further.