QUALCOMM Incorporated Stock Forecast

QUALCOMM Incorporated stock price up 1.93% on Monday
(Updated on May 20, 2024)

QCI.DE Signals & Forecast

The QUALCOMM Incorporated stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 176.01€ and 162.51€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 22.83%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for QUALCOMM Incorporated stock

On the downside, the stock finds support just below today's level from accumulated volume at 168.58€ and 154.98€. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, QUALCOMM Incorporated finds support just below today's level at 168.58€. If this is broken, then the next support from accumulated volume will be at 154.98€ and 154.82€.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved 5.08€ between high and low, or 2.86%. For the last week the stock has had daily average volatility of 1.94%.

The QUALCOMM Incorporated stock is extremely overbought on RSI14 (84). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the QUALCOMM Incorporated has been rising for 8 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: 177.57€ (-2.82%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 25 days ago.)

Trading Expectations (QCI.DE) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect QUALCOMM Incorporated to open at 181.03€, and during the day (based on 14 day Average True Range), to move between 179.02€ and 186.42€, which gives a possible trading interval of +/-3.70€ (+/-2.03%) up or down from last closing price. If QUALCOMM Incorporated takes out the full calculated possible swing range there will be an estimated 4.05% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 168.58€, some 14.14€ (7.74%) from the current price of 182.72€, our system finds the risk reward attractive.

Is QUALCOMM Incorporated stock A Buy?

QUALCOMM Incorporated holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for QUALCOMM Incorporated of Tuesday, May 21, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.