QCOM: Inverse Head And Shoulders detected on 25 Sep 2026

Qualcomm recently unveiled Snapdragon 8 Elite Extreme and 8 Elite platforms on September 22, 2026, coinciding with an inverse head-and-shoulders reversal pattern forming at $194.26. The structure scores 10.0/15 with solid volume confirmation (10.0/12) and breakout conviction at 12.0/13, yielding a 66.0 overall score. The stock trades 24% below its 52-week high with key support entrenched at $155.38 and resistance at $144.00. MACD histogram at 1.88 signals positive momentum, and RSI at 63.53 sits in neutral territory without overbought stress.

In fiscal Q3 2026, Qualcomm disclosed that its share of Apple's iPhone would be materially lower than the prior 20% estimate, while management raised its non-handset revenue target for fiscal 2029 to $40 billion—nearly doubling the prior $22 billion goal. QCT Automotive recorded $1.6 billion in the quarter with 61% year-over-year growth, backed by expanded BMW agreements and custom chip engagements with hyperscalers. In September, Qualcomm announced a collaboration with Amazon across multiple generations of customized silicon for AWS. CEO Cristiano Amon sold 10,000 shares on September 21st at an average price of $195.00, which occurred just after the Snapdragon Summit announcements.

The inverse head-and-shoulders breakout target sits at $204.64 conservatively, representing a 5.4% move above current price. Success requires acceleration through the $194.26 neckline with volume above the 20-day average of 14.4M shares—currently running light at 9.1M. Historical win probability of 61.3% supports the setup's validity. Invalidation occurs decisively below the left-shoulder support at $155.38, which would negate the reversal pattern entirely and suggest the prior downtrend remains intact.

Revenue fell 4.0% year over year in the latest quarter, highlighting near-term organic growth challenges amid smartphone market saturation. Volume ratio of 0.63 indicates subdued conviction on this rally—participation remains 37% below average. With beta at 1.78, price swings are amplified 78% versus the broad market. Cantor Fitzgerald lowered its price target from $200 to $165 in July with a neutral rating, and Piper Sandler initiated coverage with a neutral rating and $190 price target on September 9—both sitting below the measured move target, signaling analyst caution. The stock remains vulnerable to disappointment if non-handset revenue expansion timeline slips beyond guidance.

We scan more than 6,000 NYSE and NASDAQ stocks every trading day and compare each detected pattern against a database of 370,000+ historical detections. Every setup is scored across three dimensions: Structure, Volume, and Breakout Readiness. Win probability is a calibrated estimate of how similar historical setups performed over the following 10 trading days. This is a swing trading tool built for multi-day holds. It is not built or tested for day trading.