QCOM: Bull Run Appears Over – Major Support BrokenQUALCOMM IncorporatedBATS:QCOMibraheeemzAfter reaching a high of 258, QCOM appears to have completed its bullish cycle. The stock failed to print a new higher high and has now broken below the key 190 support, shifting the long-term technical outlook to bearish. Key Technical Observations: 📉 Failure to make a new high after the peak at 258, indicating weakening bullish momentum and strong bearish sentiments, since the fall is supported by huge volume. 🔻 Breakdown below the major 190 support confirms a bearish change in market structure. 🎯 A classical Inverse Head & Shoulders Top (head-and-shoulders reversal pattern) projects a measured downside target near 121. 🛑 Intermediate support is expected around the 160-165 area, where a temporary bounce or consolidation could occur. Unless buyers reclaim key resistance, rallies are likely to be corrective rather than the start of a new uptrend. Bullish Invalidation This bearish outlook would be invalidated by a strong daily close above 233, which would suggest the breakdown was a false move and put the bulls back in control. Until then, the path of least resistance remains to the downside.