$QCOM Fails To Breakout, This Is What It Means To Investors

On Monday, shares of QUALCOMM, Inc. (NASDAQ:QCOM) opened above a major breakout level of $58.75. However, by the time the stock market closed, price was back below, failing to hold the breakout. This is a major level for QUALCOMM as it is the pivot between a major move up to $63 or a collapse down to $52.50. Investors should read it super simply. As long as QUALCOMM, Inc. stays below the breakout trend line of $58.75, be negative on the stock and do not be surprised if it falls back to $52.50. If however, QUALCOMM closes any day above $58.75, jump on board for an easy ride to $63.00.