Resistance

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Qualcomm’s (NYSE: QCOM)&nbsp; price surged nearly 4% (approx.) in the last week.&nbsp;</a> </li> 
 <li> <span>2</span> <a>QCOM stock price dropped below the key moving average of 50 and 200 EMA.&nbsp;&nbsp;</a> </li> 
 <li> <span>3</span> <a>Qualcomm Inc. Company paid dividends of $0.80 on Wednesday,&nbsp; 30th August.</a> </li> 
</ul> 
<p>Qualcomm Inc. (QCOM stock) price took support from $107 and bounced back to close at $114.36 on Friday. The Stock started this week with positivity and managed to gain 0.75% on Monday. Qualcomm Inc. (NYSE: QCOM) Company paid a dividend of $0.80 per share on 30 August.&nbsp;</p> 
<p>The daily chart shows that the price rebounded from the $100 level and surged to a high of $132.89 in a span of two months before the quarterly results attaining a return of more than 25%.<br><br>The company reported recent quarterly results on 2 August 2023 post which the stock showed a gap-down opening of 10% which led the sellers to short-sell near the upper levels and the stock declined.<br><br>The stock price could not sustain the key moving averages of 50 and 200 EMA which showed the dominance of the sellers at the upper levels. The stock price took support at $107 and consolidated.&nbsp;</p> 
<p>The Analysts offering a 1-year price forecast for <a href="https://www.thecoinrepublic.com/2023/08/31/qualcomm-stock-will-qcom-stock-reach-140-by-the-end-of-2023/" rel="noopener noreferrer nofollow">Qualcomm Inc.</a> have a max estimate of $167.70 and a minimum estimate of $95. Qualcomm Inc. engages in developing and commercializing foundational technologies and products in mobile devices and other products.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="552" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-32-1024x552.png" alt="" class="wp-image-165007" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-32-1024x552.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-32-300x162.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-32-768x414.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-32-750x404.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-32-1140x614.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-32.png 1442w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    &nbsp;Source: barchart.com 
  </figcaption> 
 </figure> 
</div> 
<p>QCOM stock option-chain analysis states that the current implied volatility in the market is 24.39% with a decrement of 1.37% in the last trading session. The nearest support of $20 has an OI of 265 open contracts on the CALL side and&nbsp; 1270 open contracts on the PUT side indicating that the buyers are in domination at the support which indicates that the price might continue to surge to upper levels.&nbsp;&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-qcom-stock-price-bounced-back-from-the-lower-levels-strong"><strong>QCOM Stock Price Bounced Back From The Lower Levels.&nbsp;</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="478" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-33-1024x478.png" alt="" class="wp-image-165008" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-33-1024x478.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-33-300x140.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-33-768x359.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-33-1536x717.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-33-750x350.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-33-1140x532.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-33.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: Qualcomm Inc.&nbsp; 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The QCOM stock price currently trades at $115.39 and inclining upwards after a decline followed by consolidation at the lower support levels.&nbsp;</p> 
<p>The Analysts are bullish about the trend in the short term as the price has bounced back from the lower levels. The price may continue to surge till the upper trendline resistance.&nbsp;</p> 
<p>However, the breakdown of the $107 level may turn the short-term trend and the price may decline sharply.</p> 
<h3 class="wp-block-heading" id="strong-the-emas-showing-a-death-crossover-on-the-daily-chart-strong"><strong>The EMAs Showing A Death Crossover On the Daily Chart</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="478" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-34-1024x478.png" alt="" class="wp-image-165009" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-34-1024x478.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-34-300x140.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-34-768x359.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-34-1536x717.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-34-750x350.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-34-1140x532.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-34.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: Qualcomm Inc.&nbsp; 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The daily <a href="https://www.thecoinrepublic.com/2023/08/31/qualcomm-stock-will-qcom-stock-reach-140-by-the-end-of-2023/" rel="noopener noreferrer nofollow">QCOM stock</a> price chart shows that the price is trading below the 50 and 200 EMA which might act as a resistance to the inclining price.&nbsp;</p> 
<p>Currently, the overall Technical Opinion rating including RSI and MACD is signaling a 72% sell with a weakening short-term outlook on maintaining the current direction.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Qualcomm Inc.’s (QCOM) stock price bounced back from $107 to $114.36 after a gap-down opening of 10% following the quarterly results. The stock had surged from $100 to $132.89 in two months before the results. The price is currently trading at $115.39 and may continue to rise till the upper trendline resistance. However, a breakdown of $107 may change the short-term trend to bearish. The analysts are optimistic about the stock in the short term as it has rebounded from the lower support levels.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> $113.19 and $107.18.</li> 
 <li><strong>Resistance levels:</strong> $126.36 and $2132.89.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Qualcomm Stock Price Forecast: Can QCOM Stock Touch Highs Soon?

Table of Contents

Thecoinrepublic.com

Other articles published on Sep 5, 2023

Dogecoin Price Prediction: DOGE Taking A Nap Below 20-Day EMA

Ripple's Massive XRP Transfer to Bitstamp Sparks Speculation

Visa Enhances Stablecoin Settlement with Solana

Unprecedented Metaverse “Economic Stimulus” NFT Trunk Offer From Utherverse Includes 0.3 ETH in A...

Nigeria Turns Out to be the Most Crypto-Aware Country

Daily Analysis: BTC, ETH, DOGE, OXT, PYR

Join our free newsletter for daily crypto updates!