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Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>QCOM stock price crashed more than 2.51% intraday on 13th October.&nbsp;</a></li>
 <li><span>2</span> <a>Qualcomm Inc. stock (NASDAQ: QCOM) price fell below the key exponential moving average of 50-day and 200-day EMA.&nbsp;</a></li>
 <li><span>3</span> <a>Analysts offering a 1-year price forecast for the QCOM stock observe a maximum potential of 54.33% on the upside.</a></li>
</ul>
<p>Qualcomm Inc. (QCOM) stock price illustrates a consolidation of over 60 sessions near the recent support. The stock price has been volatile in the last two months and has been unable to decide a clear trend in the short term.</p>
<p>The daily chart witnesses the formation of a symmetrical triangle pattern with the price currently consolidating at the lower boundary of the triangle pattern. The stock price has been delivering a sideways trend for the last three quarters and has been contracting its range respecting the boundaries of the triangle pattern.&nbsp;</p>
<p>Qualcomm Inc. engages in the development and commercialization of the foundational technology and products used in mobile devices and other wireless products. The company holds a market cap of $121.265 and is fundamentally strong. The price-to-earnings ratio is 14.60.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1600" height="747" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-439.png" alt="Qualcomm Stock (QCOM) Price Prediction: Outlook For This Week?" class="wp-image-176173" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-439.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-439-300x140.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-439-1024x478.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-439-768x359.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-439-1536x717.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-439-750x350.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-439-1140x532.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: barchart.com
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 </figure>
</div>
<p><a href="https://www.thecoinrepublic.com/2023/10/09/qualcomm-inc-qcom-stock-declining-through-an-interesting-pattern/" target="_blank" rel="noopener noreferrer nofollow">QCOM stock</a> option-chain analysis states that the current implied volatility in the market is 40.14% with an increment of 2.13% in the last trading session. The at-the-money strike has an OI of 1069 on the PUT side and 438 on the CALL side indicating the domination of buyers at the CMP.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-qcom-stock-price-shows-formation-of-symmetrical-triangle-pattern-strong"><strong>QCOM Stock Price Shows Formation of Symmetrical Triangle Pattern</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1600" height="747" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-439.png" alt="Qualcomm Stock (QCOM) Price Prediction: Outlook For This Week?" class="wp-image-176174" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-439.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-439-300x140.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-439-1024x478.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-439-768x359.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-439-1536x717.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-439-750x350.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-439-1140x532.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: Qualcomm&nbsp; 1D. NASDAQ By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>The <a href="https://www.thecoinrepublic.com/2023/10/09/qualcomm-inc-qcom-stock-declining-through-an-interesting-pattern/" rel="noopener noreferrer nofollow">QCOM stock</a> price currently trades at $108.66 with a decline of 2.51% on Friday. The stock price shows a consolidation of over sixty days near the lower trendline of the symmetrical triangle pattern.<br><br>Now, the breakout of the consolidation will keep the price in the correction zone and the stock price may show gains to reach the upper trendline of the pattern.<br><br>Moreover, the breakdown below the lower trendline of the pattern might initiate a long unwinding and the QCOM stock price might decline sharply.<br><br>The analysts offering a 1-year price forecast for QCOM stock observe a maximum potential of 54.33% to the upside that could take the price to a high of $167.70. The bearish outlook of the analysts stands at a drawdown of 7.97% which could drag the price to a low of $100.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-technical-indicators-show-sideways-trend-in-short-run-strong"><strong>Technical Indicators Show Sideways Trend in Short Run</strong></h3>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1600" height="747" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-440.png" alt="Qualcomm Stock (QCOM) Price Prediction: Outlook For This Week?" class="wp-image-176175" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-440.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-440-300x140.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-440-1024x478.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-440-768x359.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-440-1536x717.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-440-750x350.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-440-1140x532.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: Qualcomm&nbsp; 1D. NASDAQ By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>The daily QCOM stock price chart shows that the price is trading below the key moving average of 50 and 200-day EMA. At press time, the RSI lines are showing a negative crossover indicating weakness over the chart.&nbsp;</p>
<p>The overall technical opinion rating including RSI and MACD signals a 90% “sell” with a strong short-term outlook on maintaining the current direction.</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>Qualcomm stock has persisted in a sideways trend for the last three quarters and forms a symmetrical triangle pattern on the daily chart. The stock may break out or break down depending on the earnings results and the market sentiment.&nbsp;</p>
<p>The analysts have a bullish outlook for the stock with a maximum price target of $167.70 and a minimum of $100. The stock has a strong fundamental value and a low price-to-earnings ratio. The stock closed at $108.66 on Friday with a 2.51% drop.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support levels:</strong> $107.18 and $101.63</li>
 <li><strong>Resistance levels:</strong> $116.08 and $126.36</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 (QCOM) Price Prediction: Outlook For This Week?

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