Snapdragon X Series AI chip advance lifts Qualcomm stock 2.52% in daily trading

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Qualcomm jumps 2.52% today

Highlights

QCOM exhibits short-term bullish momentum but faces medium- and long-term selling pressure, with price near the top of its weekly range.
Momentum indicators are mixed; MACD and W1 signals are bearish, while some oscillators indicate overbought and neutral sentiment.
Baseline scenario calls for sideways trading between $127.00 and $133.00 next week, with a sub-20% probability of a price increase.

Short-term bullish bias as mid-term and long-term barriers persist

QCOM is currently trading at $131.24, which is above the MA-20 ($128.61) but below both the MA-50 ($135.88) and MA-200 ($157.59). This setup indicates short-term bullish momentum but continued medium- and long-term seller pressure. The Ichimoku Kijun at $130.29 sits just under the current price and acts as immediate support. Near-term support levels are the Kijun ($130.29) and MA-20 ($128.61), while resistance can be found at the MA-50 ($135.88) and the more distant MA-100 ($152.54), with MA-200 ($157.59) as key resistance.

Mixed momentum signals amid sharp rebound and overbought levels

Momentum indicators on D1 show mixed signals: MACD signals a strong sell despite ADX indicating a trending market, while RSI is neutral at 50.11 and Stoch RSI is in an extreme overbought zone. CCI is neutral, but BBP shows buyers dominating with a strong overbought reading. The Awesome Oscillator is neutral and does not support a clear trend bias at the moment. QCOM is trading at $131.24, up from a previous weekly close of $128.01, reflecting a 2.52% gain over the past week. The price now sits at the very top of the weekly range, and weekly volatility stands at 7.02%. The tone is one of sharp recovery from the weekly low, emphasized by today's strong gain of 2.52% in the session.

Downside favored as bearish weekly setup limits upside probabilities

For the coming week, the projected price range is $127.00 to $133.00, reflecting QCOM’s position near the 52-week low ($121.99) and well below the 52-week high ($205.95). Based on the current W1 indicator alignment (all bearish), the probability of a price increase next week is very low (less than 20%), while a decrease is much more likely. The baseline scenario is sideways trading within the $127.00–$133.00 corridor. A bullish outcome would require a clear breakout above near-term resistance at $135.88, pushing toward $140. If QCOM falls below support at $128.61, a test of the $126.00 area becomes likely, especially given weak W1 momentum and a subdued RSI.

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Previously it was reported that Qualcomm was exhibiting predominantly bearish momentum, with analysts favoring a period of sideways consolidation. As market conditions continue to shift, traders should closely monitor for any decisive breakout or reversal that could set the tone for Qualcomm’s next major move.

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