QUALCOMM Stock Forecast
Red day on Wednesday for QUALCOMM stock after losing 2.53%
(Updated on Apr 17, 2024)
The QUALCOMM stock price fell by -2.53% on the last day (Wednesday, 17th Apr 2024) from $168.58 to $164.32. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 3.92% from a day low at $163.77 to a day high of $170.19. The price has fallen in 6 of the last 10 days and is down by -5.51% for this period. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 8 million shares were bought and sold for approximately $1.33 billion.
Given the current short-term trend, the stock is expected to rise 18.88% during the next 3 months and, with a 90% probability hold a price between $195.34 and $225.03 at the end of this 3-month period.
QCOM Signals & Forecast
There are few to no technical positive signals at the moment. The QUALCOMM stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $170.80 and $168.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -6.49%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for QUALCOMM stock
On the downside, the stock finds support just below today's level from accumulated volume at $151.96 and $148.51. 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 finds support just below today's level at $151.96. If this is broken, then the next support from accumulated volume will be at $148.51 and $141.11.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $6.42 between high and low, or 3.92%. For the last week the stock has had daily average volatility of 2.60%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (QCOM) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect QUALCOMM Incorporated to open at $166.09, and during the day (based on 14 day Average True Range), to move between $160.18 and $168.46, which gives a possible trading interval of +/-$4.14 (+/-2.52%) up or down from last closing price. If QUALCOMM Incorporated takes out the full calculated possible swing range there will be an estimated 5.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $167.20 (1.75%) than the support at $151.96 (7.52%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is QUALCOMM Incorporated stock A Buy?
The QUALCOMM stock holds several negative signals and despite the positive trend, we believe QUALCOMM will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.102 Sell Candidate Unchanged
Predicted Opening Price for QUALCOMM Incorporated of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $166.09 ( 1.08%) | $164.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QCOM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 172.51 | 4.99 % | |
| R2 | 170.06 | 3.49 % | ||
| R1 | 168.55 | 2.57 % | ||
| Current price: | 164.32 | |||
| Support | S1 | 163.64 | -0.413 % | |
| S2 | 162.13 | -1.34 % | ||
| S3 | 159.67 | -2.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 175.72 | 6.94 % | |
| R2 | 167.89 | 2.17 % | ||
| R1 | 167.20 | 1.75 % | ||
| Current price | 164.32 | |||
| Support | S1 | 151.96 | -7.52% | |
| S2 | 148.51 | -9.62% | ||
| S3 | 141.11 | -14.12% |
QCOM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 04, 2024 | Feb 28, 2024 | Mar 21, 2024 | $0.80 | 0.468% |
| 2 | Oct 13, 2023 | Nov 29, 2023 | Dec 14, 2023 | $0.80 | 0.565% |
| 3 | Jul 05, 2023 | Aug 30, 2023 | Sep 21, 2023 | $0.80 | 0.741% |
| 4 | Mar 30, 2023 | May 31, 2023 | Jun 22, 2023 | $0.80 | 0.687% |
| 5 | Jan 09, 2023 | Mar 01, 2023 | Mar 23, 2023 | $0.750 | 0.604% |
FAQ
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