Tomorrow is an announcement for the chip producer and will provide a clearer picture of where the current price level may go. The $50 zone is critical and a brake below $48 dollars can spell trouble for bulls. The $45 zone is the last hope before complete capitulation.
Should we see an upswing, I suspect resistance @ the $54 zone.
Personally, I see an upswing very unlikely from a technical perspective.
QCOM has been battered on the fundamental front, including a contested buyout by Broadcom, which was ultimately denied by Trump, an FTC lawsuit challenging its patent based business model, and a bitter dispute with Apple , which left Apple seeking Intel as a chip supplier. The FTC lawsuit wrapped up earlier today, and the final result will be the driving force behind future price action.
In summary, the future doesn't look bright technically or fundamentally for the company.