Shares of tech giant Qualcomm Inc. (NASDAQ: QCOM) jumped roughly 3.5% on Tuesday, Jan. 6, lifting the stock back toward the $183 area. That level is not random. It marked a firm ceiling in December and was also a sticky zone for bulls back in October and November, making it one of the most important price levels on the chart right now.
What makes the current setup more compelling than previous ones is the structure taking shape underneath it. Since April, Qualcomm has been logging a clear series of higher lows, supporting a rising trendline that is now starting to push hard against a line of resistance around the $183 level.
