Qualcomm: Target Zone Active!

QCOM is still trading outside our blue Target Zone, which spans from $159.57 to $121.52. While the stock has fulfilled the technical minimum requirement for the blue wave (IV) by reaching this range, we primarily expect further sell-offs and lower lows before the correction is complete. A premature breakout will only be confirmed if the price sustainably surpasses the $182.08 mark (37% likely).