Qualcomm tries to shake off negative pressures - Analysis - 29-04-2022

Qualcomm's stock rallied 9.69% in the last session, settling at $148.19, with trading volumes surpassing 31 million shares.

The gains came after the company reported a profit of $3.21 per share, on sales of $11.16 billion, beating estimates of $10.6 billion.

The stock is also rising amid positive signals from the RSI, and attempts to shake off negative pressure from the 50-day SMA, attacking the downward correctional short-term trend line.

Therefore we expect more gains for the stock, targeting the resistance of 171.20, provided the resistance of 153.30 was breached. 

Expected trend for today: Bullish