QCOM Long — $QCOM pulling back to structural shelf at $220 afterQUALCOMM IncorporatedNASDAQ:QCOMmnktrdOn the 4h HTF, QCOM staged a powerful recovery from a ~$125 YTD low to a peak near $258–260 in late May/early June, establishing a clear uptrend (series of HH/HL). After that peak, price corrected sharply to the ~$190 area (June 9–10), then recovered to the current ~$220 zone. The $218–222 area is a well-tested structural shelf — it was former resistance on the way up (May 8 breakout zone ~$224, and the multiple consolidations around $218–221 in late May), now acting as support. On the 1h LTF, after the June 9 flush to ~$190, QCOM recovered and has been consolidating/building between ~$213 and ~$228 over the past week. Today's session opened with a strong gap move into $228.5, then faded back to the $221–222 area, forming a rejection from the upper range and a possible inside-bar/consolidation at the structural shelf. The trigger is price holding above the ~$218 micro-support shelf after the morning pullback — a clean retest of the former breakout cluster. Stop is placed below the June 17 intraday low cluster near $212.7, cleared by about half an ATR to $213.50, keeping the trade outside everyday noise. Target is the $240 supply zone where QCOM consolidated heavily in late May and early June before its June 3 push — the first defended resistance price must clear to the upside. The AI catalyst cluster (40+ AI designs revealed June 16, Snapdragon Reality Elite launch, Tenstorrent acquisition talks, Snap AR design win, Jensen Huang endorsement) supports the bullish thesis, though the stock is trading above the Wall Street consensus target of ~$185, and elevated short interest plus retail flow into SpaceX IPO represent near-term headwinds. Earnings are 41 days out and are not an immediate binary risk for this swing read. Invalidation is a close below $213.50, which would break the LTF HL structure and expose the $200 area. 📍 Entry: 221.88 🛑 Stop: 213.50 🎯 Target: 240.00 ⚖️ R:R: 2.16