In his Real Money column "Panic Doesn't Pay, but These Bull Markets Will" Jim Cramer identified five bull markets that can work with spiking Covid-19 cases. The first is the 5G wireless bull market.
In the daily bar chart of QCOM, below, we can see that the shares have started a correction or pullback toward the rising 50-day moving average line. The On-Balance-Volume (OBV) line has rolled over but we can also see a potential zone or band of support in the $115-$110 area. Prices stalled in this area back in August and then buyers appeared in that area in September.
At this point I would look for buyers to show up again as $115 is approached, but nothing is for certain.