Qualcomm Wave Analysis – 05 February, 2020

• Qualcomm reversed from support area
• Likely to rise to 90.00

Qualcomm recently reversed up from the support zone located between the key support level 85,00 (low of the previous correction (ii) from the start of January), lower daily Bollinger Band and the 61.8% Fibonacci retracement of the previous upward impulse 1 from November.

The upward reversal from this support area started the active short-term impulse wave 3 – which belongs to the medium-term impulse sequence (3) from December.

Qualcomm is likely to rise further toward the next resistance level 90,00 (which stopped wave (b) of the earlier ABC correction 2).