Earnings shock, 94% sell-side volume
Qualcomm Stock Sinks 11.6% on Earnings as the Sell Signal Regains Momentum
Earnings shock, 94% sell-side volume
Our view last week
Qualcomm stock closes the week down 2.8%, with 91% of daily volume on the sell side. Price, though, stays boxed between the first support, in the 165 area, and the first resistance, in the 168 area — a tight corridor the double bottom from two weeks ago hasn't broken to the downside yet. The ADX has now declined for a fourth straight week: the decline is losing conviction even as its direction stays negative.
This week's summary
Qualcomm stock breaks hard out of the tight corridor it had been boxed in for weeks: the July 29 earnings report sends the week to an 11.6% loss, with 94% of volume on the sell side — the most lopsided reading in a month. Weekly money flow craters into heavy distribution, and the Sell signal, active for 5 weeks, regains momentum after a stretch of stalling. The weekly technical analysis marks a clean turn.
IQS Phase
81
in tension / maturity
Signal Strength
64
decline starting to make lower lows
Sizing
STANDARD
Ranking
#6 / 138
US stocks
Trade P&L %
+22.06%
from signal to date, no stop loss
Rank position
ranks 6th among the 138 sell signals for US stocks in our ranking, with a signal strength of 64 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly -0.30% · monthly -5.53%
QCOM belongs to the growth tech sector (reference ETF XLK). The sector is classified weak phase according to our weekly reading.
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