Schwab Network on $QCOM (Nov 4, 2026)

news win for Qualcomm. SpaceX signing a deal with the company to provide network technology for its mobile service. Qualcomm the winner on this front so far.

Keep in mind Qualcomm also set to report its quarterly results after the bell today. It follows a mixed report last quarter. Analysts looking for 216 per share on adjusted earnings and revenue more than 10.1 billion

shares of Qualcomm rising in reaction to the news related to SpaceX. Some pretty interesting news for Qualcomm to be sure in addition to the earnings coming up here.

And we can see that a bit of an underperformer as of late. Minus 4.9% on the year. Underperforming tech and the SMH Semiconductor ETF which are up 20% and 47% respectively there.

Qualcomm a bit of a different beast than some of the other chip makers here.

Qualcomm focuses more on uh wireless connectivity chips, internal tiny modems, that kind of thing here. So uh what we see now uh in this case though Qualcomm kind of near the bottom of this group here kind of in line with Broadcom and Nvidia meanwhile outpaced by Cisco, Intel, Marll, some of these other names here.

We are between this repeated floor after a small gap up that we saw here near 155. We also had a notable high point here that lines up with a a gap that formed more recently near 179 and an initial high here near 196 that has yet to be uh compellingly breached except for a handful of closes above that level.

when we advance our chart and when we think about our moving averages next, they're all clustered together pretty closely here between about 169 to 177 or so.

So, when we have moving averages that are kind of lumped together with a sideways trend, it speaks to lack of strong directionality here. We did have a bit of a a shift uh to the downside here with our 5-day EMA in dark blue crossing over its slower counterparts.

But, uh, you know, as we head into earnings though, I would not really, you know, hang my hat on something like that, especially uh because of how quickly earnings can be a catalyst that can completely rewrite this type of story.

RSI exhibiting a similar downward slide, but with the same caveat. We're below that 50 midline, but momentum often slows as we head into earnings here. So, uh, uh, this is not really, uh, anything to write home about.

So, uh, what we have though is this notable confluence of these moving averages to give us a potential kind of pivot point here. If we were to break above it, it would be an interesting, uh, area to watch for potential support or for a potential upside breakouts. uh in either way.

So when we look at volume profile, what we have is a big accumulation of trading activity here in this area 160 to 180. Our point of control comes in a little bit below 175. So if we do start to drop out of this heavily traded area, things start to pick up again to the downside around 40 140.

We have another smaller uh pocket of activity up here near 200. So those would be some areas to watch going forward potentially. Sure. So, when we think about our expected move here, we're going to look out to December 18th, our December 18th monthly.

That's our green box here. So, plus or minus about 16.4% here either way potentially is our expected move.

And we're going to look for more of a bullish setup this time. Plus one December 18th, 165, 180, 190 call butterfly at a 330 debit. Max loss is our debit paid $330 here.

Uh max profit if we were to expire right at our our double short strike of 180 would be 1,170 here. Uh break even 16830 3.3% to the upside.

Our uh uh protective long strike at 190 lines up with the edge of that expected move area as well here about uh 16 17% to the upside. So, a trade looking for continued strength with the added uh caveat that we wouldn't have our winner turn into a loser if we get a bigger than expected move.