QUALCOMM Stock Forecast

QCOM Signals & Forecast

The QUALCOMM 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 $128.10 and $118.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, October 25, 2023, and so far it has risen 23.75%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Friday, October 06, 2023 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

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Support, Risk & Stop-loss for QUALCOMM stock

On the downside, the stock finds support just below today's level from accumulated volume at $117.36 and $110.28. 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 $117.36. If this is broken, then the next support from accumulated volume will be at $110.28 and $106.40.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.76 between high and low, or 1.37%. For the last week, the stock has had daily average volatility of 1.65%.

Our recommended stop-loss: $125.60 (-3.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 26 days ago.)

Trading Expectations (QCOM) For The Upcoming Trading Day Of Monday 4th

For the upcoming trading day on Monday, 4th we expect QUALCOMM Incorporated to open at $129.48, and during the day (based on 14 day Average True Range), to move between $127.08 and $132.26, which gives a possible trading interval of +/-$2.59 (+/-1.99%) up or down from last closing price. If QUALCOMM Incorporated takes out the full calculated possible swing range there will be an estimated 3.99% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $117.36, some $12.31 (9.49%) from the current price of $129.67, our system finds the risk reward attractive.

Is QUALCOMM Incorporated stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for QUALCOMM stock to perform well in the short-term.

Current score: 1.886 Open Broker Account

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