Qualcomm is sitting at a critical juncture, just one step away from delivering a major long-term buy signal. For months, the stock has been locked in a downtrend, but the technical picture is beginning to shift.
The first key clue came from the red flag pattern, which initially broke to the downside. That move, however, quickly lost steam as sellers failed to follow through. Instead of continuing lower, Qualcomm reversed direction, turning the apparent bearish signal into a false breakout — often one of the strongest reversal signs in technical trading.
Since then, the stock has reclaimed the green resistance, and attention is now firmly on the orange and blue resistance levels. A daily close above these two barriers would confirm the reversal, giving traders a proper long-term signal to go long and suggesting that the downtrend is over. The coming sessions will decide whether Qualcomm can finally unlock that bullish breakout.