Qualcomm stock price forecast: $196.00 resistance as QCOM advances 3.46%

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Qualcomm surges 3.46% on earnings today

Highlights

Qualcomm’s Q2 net profit surged 162% year-over-year, driven by record automotive chip revenue and expanding demand from institutional investors.
Corporate actions including a $20 billion stock repurchase authorization, higher quarterly dividend, and a 90-day US-China tariff pause are fueling positive investor sentiment.
QCOM trades in a strong bullish trend with momentum indicators overbought, targeting a $188.00–$198.00 range and high probability of further gains.

Earnings surge and capital returns drive renewed buying interest

Qualcomm’s surge is propelled by its latest Q2 earnings release, which showed a 162% year-over-year jump in net profit and a record high in automotive chip revenue, highlighting significant operational expansion and attracting new institutional demand. The announcement of a 90-day pause on US-China tariffs has further lifted sentiment by easing supply chain concerns and clarifying revenue streams tied to China, translating into renewed buying interest. Additionally, the Board’s approval of a $20 billion increase in stock repurchases and a raised quarterly dividend enhances capital returns, offering direct support for share value.

Technical breakout confirmed as oscillators warn of possible exhaustion

QCOM has decisively cleared multiple technical thresholds, trading above the MA-20 at $145.64, MA-50 at $138.17, and MA-200 at $156.97, with the Ichimoku Kijun level positioned at $155.43 and now acting as immediate support. On the daily chart, the MACD and ADX confirm sustained buy signals and strong upward momentum, while the Awesome Oscillator supports ongoing bullishness. Oscillator readings show that RSI, Stoch RSI, and CCI have entered overbought territory, which can signal short-term exhaustion even as BBP readings indicate buyers remain dominant in the market. The upward gap from the previous close at $187.66 to today's open at $192.41 underpins strong intraday demand and elevated price volatility.

Further gains likely as weekly indicators remain firmly bullish

For the next five trading days, typical volatility places QCOM's expected price range between $188.00 and $198.00. The probability of further price appreciation remains very high, given that all critical weekly trend signals, including RSI-W1, MA-50-W1, ADX-W1, and MACD-W1, remain bullish. The most likely scenario is a consolidation near current levels, while a break above $196.00 could open the way to additional gains. A reversal remains unlikely unless the price closes decisively below immediate support at $155.43.

Anton Kharitonov, expert at Traders Union, believes Qualcomm’s rally is justified by outstanding Q2 net profit growth and record expansion in automotive chips. Critical technical and sentiment signals remain strong, supported by management’s major buyback plan and tariff relief news. However, he remains defensive at these levels given overbought oscillators and elevated volatility. "Until we see a confirmed breakout above $196.00 or a decisive close below $155.43, new entries remain too risky for my taste."

Previously it was reported that robust quarterly earnings, new AI business wins, and expanded capital returns measures were driving sustained bullish momentum in Qualcomm shares. The current trajectory reinforces this view, with heightened institutional demand and improved supply chain outlook placing the focus on a potential breakout above $196.00 as the next catalyst for further upside.

Source of Data: QCOM Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.