QCOM — Daily Playbook
Qualcomm remains in a structural uptrend, trading 12.4% above its rising 50-SMA (189.46) and 27.9% above its 200-SMA (166.48), with the 50 well clear of the 200 — a classic bull alignment. That said, near-term momentum is cooling: RSI at 50.70 is neutral after a stronger run, and the MACD line (4.20) has rolled under its signal (8.49), pointing to a loss of upside thrust even as price holds elevated levels. The setup is a pullback-versus-breakdown decision: bulls want to see 212.97 stabilize and reclaim momentum back through the MACD signal, with the 50-SMA near 189.46 as the key higher-timeframe support shelf; bears get traction on sustained closes that lose the 50-SMA and open a path back toward the 200-SMA zone near 166.48. Trigger for continuation is a reassertion of momentum (MACD cross back up) while price holds above the mid-190s; trigger for distribution is a decisive break of 189.46 on expanding range. The bullish thesis is wrong if QCOM loses the 50-SMA and fails to recover it on a retest, as that would flip the short-term trend and put the 27.9% premium to the 200-SMA at risk of mean reversion.