$QCOM Daily — Smart Money Concepts + Fib ConfluenceQUALCOMM IncorporatedBATS:QCOMWavervanir_International_LLCQCOM Daily — Smart Money Concepts + Fib Confluence Bearish structure confirmed. Multiple CHoCH prints from the $180 supply zone, followed by consecutive BOS to the downside. Price now trading at $136.99, below the 0.786 fib ($142.80) and below the CM Ultimate MA ($140.06). Key observations: ▸ Descending trendline resistance holding — lower highs compressing into the Feb breakdown ▸ RSI at 38.98 — approaching oversold but NOT there yet. Room to bleed further ▸ Price rejected hard off the 0.886 fib ($137.70) zone — currently retesting it as resistance-turned-support flip ▸ Equilibrium at $160 is now far overhead. Bears in full control below $142 Downside targets: 🎯 1.0 fib / demand zone: $131.88 (blue zone — strongest HTF support) 🎯 1.236 extension: $119.84 (discount zone, Strong Low) 🎯 1.382 extension: $112.40 (capitulation level) Invalidation: Daily close above $142.80 (0.786 reclaim) would shift bias neutral. Bias: Bearish until proven otherwise. Watching $131.88 for potential reversal setup. If that zone fails, $119-120 becomes the magnet. Not financial advice. DYOR. #QCOM #SmartMoneyConcepts #TechnicalAnalysis #Fibonacci #SwingTrade