The 5G mobile wireless technology developer trades at $118.72 today, after closing yesterday at $116.38 and gaining $2.34 (2%).
United States's Consumer Confidence new data released of 102.5 below its previous figure.
Nevertheless, United States Consumer Confidence published today at 14:00 UTC came out at 102.5, falling short of the 106.5 projections and continuing its decline from the previous 107.8 figure.
Meanwhile, United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Aug) released today at 13:00 UTC with a figure of 13.1, while the previous figure was 16. United States Services PMI came out at 46.6, while a consensus of analysts was expecting 49.2.
A study of Qualcomm's historical price actions shows Qualcomm broke through the $117.52 resistance and climbed above it $1.2; next resistance level is at $118.66.
A look at other technology stocks also shows bullish price action as SAP is trading at $96.61 after ending yesterday's session at $91 (up 6.15%). ASML Holding is trading at $492.5 after ending yesterday's session at $472.97 (up 4.13%). Coherent, Inc. is up 3.72%.
Moreover, macro data could boost sentiment further as United States Crude Oil Inventories is projected to outperform its last figure with 200,000, having previously been at -1.73 million. The figure will be published tomorrow at 14:30 UTC.
The market is looking forward to the release of new data: United States New Home Sales (Sep) is scheduled for tomorrow at 14:00 UTC.
After hitting an important low of $108.64 approximately 13 days ago, the 5G mobile wireless technology developer has bounced back 7.12% since.