Qualcomm currently down 2.74% halfway through today

The 5G mobile wireless technology developer crashes after losing 2.74%, down to $124.08.

Qualcomm is currently trading at $124.08 following the release of ISM Manufacturing PMI (Mar) data from the United States.

Amid the market gloom, United States ISM Manufacturing PMI (Mar) came out at 46.3, while a consensus of analysts was expecting 47.5. United States ISM Manufacturing Employment (Mar) released today at 14:00 UTC with a figure of 46.9, while the previous figure was 49.1. United States ISM Manufacturing Prices (Mar) came out at 49.2.

After descending below strong Fibonacci support at $125.56, market bears have earmarked $122.51 as the next downside target. Chart analysis indicates Qualcomm could begin to recover as it approaches significant support, now $2.51 away from $126.59. Dipping below could be an indication that further losses are ahead.

In the meantime, negative performances are also seen in other technology stocks as Intuit is down 1.97% from the beginning of the session and now trades around $437.06. After closing the previous session (Friday) at $288.3, Microsoft lost $3.48 and is trading around $284.82. AMD is trading around $95.49 (down 2.57%).

Furthermore, United States JOLTs Job Openings (Feb) scheduled to come out tomorrow at 14:00 UTC.

The past 3 months have been positive for the wireless technology company as it added 19% compared to its 3-month low of $103.88.