Yesterday at a glance: Qualcomm ascends 1.85% to close at $116.55 yesterday.
United States Producer Price Index data will be released today at 12:30 UTC, with an expected decline to 0.3%.
With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Analysis based on the asset volatility indicates that Qualcomm's lower Bollinger Band® is at $113.25, indicating that the market is oversold and fertile for new buyers.
All in all, the technical analysis suggests Qualcomm has no clear-cut direction.
Furthermore, the market is looking at today at 12:30 UTC data for United States Retail Sales will be released, with an expected decline to -0.3% from the preceding figure of 3%. Today at 12:30 UTC data for United States Core Retail Sales will be released, with an expected decline to -0.1% from the preceding figure of 2.3%. United States Producer Price Index projected to come out at 0.3% — worse than previous data of 0.7%; data will be released today at 12:30 UTC.
On a negative trend for around a month. The wireless technology company is now trading 28.96% below the significant high of $161.07 it set around 11 months ago.