Photo by Maxim Hopman on Unsplash
 

Today’s instrument is the Qualcomm Inc. stock traded on the Nasdaq exchange under the ticker QCOM. 

Looking at the QCOM’s chart, we can see that lately, it has been in a downtrend and that it was lastly traded at around $112.80.

Last night it announced its quarterly earnings which were (more or less) in line with expectations but with a gloomy outlook. Today we could expect it to test its lowest price of the year which was around $107, and if it breaks it down, then it would reach a new low level for the current year, as its 52W low is located at the price of around $102.

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