We wrote about Qualcomm (QCOM) on February 1 ahead of earnings and said, "I have no idea whether QCOM's earnings will be bullish or bearish. We have a daily Point and Figure chart with a downside price target and a weekly Point and Figure chart with an upside target. I favor going with the trend which is up. Risk to $139 on any longs."
Prices have weakened and have skidded below our recommended stop.