Qualcomm stock price forecast: $196.90 resistance in focus as QCOM rises 6.21%

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Qualcomm jumps 6.21% to $187.37

Highlights

QCOM surged 6.21% to $187.37, closing near the session high despite bearish momentum signals.
Technical indicators signal weak short- and medium-term momentum, with a divergence between strong price action and negative sentiment.
Price is projected to range between $172.45 and $196.90, with a 55% probability of near-term downside.

Sell momentum confirmed as intraday support attracts sellers

On the hourly chart, QCOM is trading above its MA-20 at $185.95 but remains below its MA-50 near $188.30, while the daily MA-200 sits at $171.12, confirming ongoing long-term support. The Ichimoku Kijun line at $182.81 forms the immediate technical support level. Among momentum indicators, the Moving Average Convergence Divergence (MACD) is signaling Sell, while the Average Directional Index (ADX) is neutral. Both the Relative Strength Index (RSI) and Commodity Channel Index (CCI) also point to Sell conditions. Stochastic RSI and the Awesome Oscillator are neutral, and Bull/Bear Power is deeply oversold, reflecting seller control over intraday price action.

Sideways outlook favored as volatility and downside risk persist

In the short term, QCOM is likely to fluctuate within a volatility band between $172.45 and $196.9. With a 55% probability favoring further downside and only a 45% chance of continued upside, the baseline scenario is for the price to remain sideways inside this range. If bullish momentum resumes and QCOM breaks above $196.9, a further advance is possible. Conversely, a slip below $172.45 support would extend recent weakness and open the way for further declines.

Anton Kharitonov, analyst at Traders Union, believes QCOM’s short-term upside is losing conviction as technical indicators turn cautious. He sees bullish attempts limited unless $196.9 is cleared, with momentum and price action both suggesting increased risk of a pullback. Until the stock reclaims the MA-50 level, he remains defensive. "Base case is sideways between $172.45 and $196.9 — I’m staying neutral unless there’s a clear breakout or breakdown."

Earlier, analysts noted that Qualcomm was experiencing sustained selling pressure with a low probability of immediate recovery, favoring a period of sideways consolidation. With recent price action showing only cautious stabilization amid persistent bearish signals, traders should monitor the $196.9 level as a potential pivot for a shift in momentum or renewed downside risk.

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.