After signing a deal with SpaceX (SPCX) for mobile communications, Qualcomm (QCOM) moved higher in premarket trading. Rick Ducat with Charles Schwab breaks down key levels in Qualcomm as the stock has underperformed compared to other chipmakers. He says the underperformance is "nothing to write home about" since earnings may be a catalyst for the company. Rick turns to an example trade highlighting how recent momentum could be a pivot point for the stock currently approaching support.