Let's look at the Qualcomm (NASDAQ:QCOM) weekly chart.
We can see its gradual climb from the $131 support level to the $133.7, where it had a brief retraction to the $132.6 where it formed new support, and then continued to reach the high of $135.5, consolidating along the way.
The stock traded at $135.2 with $135.5 overhead resistance and support levels of $134 and $133.7.
Today we could expect a pattern continuation and another move above the $135.5 level.
If, however, it doesn't manage to hold the current level, then a move towards and below the $134 could be possible.
