The fundamental "story" of Qualcomm ( QCOM) seems to be in flux right now with a sell side fundamental analyst telling clients that the company has weakness in the handset area, while the CEO says the opposite.
Let's check out the charts of this company known for the semiconductors it makes for the wireless telecom industry. 
In this daily bar chart of QCOM, below, we can see that prices have been weakening since January. Prices are trading below the declining 50-day moving average line and below the declining 200-day line too.
The On-Balance-Volume (OBV) line has moved sideways since January even though prices have declined - this is a bullish divergence. If we drew a downward sloping channel from January we would find that the most recent decline in June has not touched the "return line" of the channel (not drawn).
The 12-day price momentum study in the lower panel of the chart shows equal lows from January to give us a bullish divergence when compared to the price action.
In this weekly Japanese candlestick chart of QCOM, below, we can see that prices are testing key support in the $130-$120 area going back to early 2021. The slope of the 40-week moving average line is weakening.
The weekly OBV line has been very steady for months now and I would put that in the "plus column". The 12-week price momentum study is improving.
In this daily Point and Figure chart of QCOM, below, we can see a potential downside price target in the $105 area. A trade at $133.94 should improve the picture.
In this weekly Point and Figure chart of QCOM, below, we can see that prices have reached a downside price target in the $122 area.
Bottom line strategy: I find enough chart clues to suggest that shares of QCOM could trade sideways from here but not enough clues to recommend purchase just yet.
