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Qualcomm Technical Analysis - Qualcomm Trading: 2023-04-20
Qualcomm Technical Analysis Summary
Above 118.71
Buy Stop
Below 116.21
Stop Loss
| Indicator | Signal |
| MACD | Sell |
| Stochastic | Buy |
| Fractals | Sell |
| Parabolic SAR | Sell |
| Fibonacci | Buy |
Qualcomm Chart Analysis
Qualcomm Technical Analysis
The technical analysis of the Qualcomm stock price chart on daily timeframe shows #S-QCOM, Daily is rebounding after testing a support following a breach of Fibonacci 61.8. We believe the bullish momentum will resume after the price breaches above the Fibonacci 61.8 at 118.71. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below the 116.21. After placing the order, the stop loss is to be moved every day to the next fractal low , following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (116.21) without reaching the order (118.71), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Stocks - Qualcomm
Qualcomm stock fell after poor first quarter of fiscal 2023. Will the Qualcomm stock price continue retreating?
Qualcomm’s recent quarterly performance was far from stellar: earnings for the first quarter were $2.2 billion, down 34% year over year. The revenue for the first quarter of fiscal 2023 (ended December 25, 2022) fell 12% year over year to $9.4 billion. This slowdown resulted in Qualcomm stock falling more than one-third from its 2021 highs. Lower revenue is bearish for a company stock. However, at a price-to-earnings (P/E) ratio of 11.52 (trailing twelve months), it holds the lowest earnings-based valuation of any major chip company. Lower valuation and expectations of revenue recovery are upside risk for a company stock.
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