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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] Source: https://www.fxstreet.com/news/qcom-elliott-wave-technical-analysis-video-202505080917

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Filed under: News - @ May 8, 2025 10:27 am