Qualcomm stock drops 8.41% as Dragonfly AI data center launch and Hugging Face partnership unveiled

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Qualcomm slides 8.41% today

Highlights

QCOM declined 8.41% in today's session and has dropped 16.55% over the past week, marking a strong bearish turn.
Trading is occurring below key short- and medium-term moving averages, with $180 as near-term support and $200 as resistance.
Technical indicators show weak momentum and oversold signals, suggesting likely consolidation between $180 and $200 with further downside risk if support fails.

Downward pressure persists as price tests key moving average supports

QCOM is trading at $188.70, below the MA-20 ($220.10) and MA-50 ($197.61) but remains well above the MA-200 ($167.77), indicating strong short- and medium-term downward pressure while long-term structure holds above major support. The Ichimoku Kijun at $224.05 stands as immediate resistance above the current price. Near-term support is found at the MA-50 ($197.61), with key support at the MA-200 ($167.77). Immediate resistance is set by the Ichimoku Kijun ($224.05), while key resistance is further reinforced by the MA-20 ($220.10).

Momentum weakens amid sharp declines and bottom-range weekly positioning

Momentum signals on D1 are weak, with MACD neutral and ADX showing a mild trend. RSI at 48.18, CCI at -62.99, and multiple oversold signals from Stoch RSI all point to short-term oversold conditions. BBP indicates sellers dominate intraday momentum. In today's session, the stock fell sharply by 8.41%. QCOM has fallen $37.44 (16.55%) over the past week, now at the very bottom of the weekly range near support, with weekly volatility standing at 22.21%. This marks a pronounced and steady decline from the weekly high, intensifying the bearish weekly tone, and the weakness in weekly performance aligns with most momentum indicators.

Downside risk dominates as consolidation zones limit rebound potential

For the coming week, the expected normalized trading range is $180 to $200, keeping price action within roughly ±6% of the current price. The probability of a price increase is very low (less than 20%), while a further decline is more likely, based on all four W1 indicators (RSI, ADX, MACD, MA-50) signaling "Buy," but short-term momentum is negative. The baseline scenario expects QCOM to consolidate between $180 support and $200 resistance. If the price rebounds above the MA-50, a bullish move could target $210, but a bearish scenario opens if QCOM fails to hold $180, risking a move toward the MA-200 near $167. The current price remains well above the 52-week low ($121.99) but well below the 52-week high ($258.00), underscoring significant room for recovery or further correction.

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Previously it was reported that despite Qualcomm's strategic efforts to diversify into AI and data center markets, analysts maintained a cautious outlook due to ongoing selling pressure and heightened volatility. This article builds on that perspective by highlighting the persistence of those challenges, emphasizing the need for investors to closely monitor shifts in sentiment or new catalysts as potential inflection points.

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