Qualcomm stock price prediction: Oversold conditions may limit further downside

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Qualcomm drops 3.31% to $182.39 today

Highlights

QCOM faces consistent seller pressure, trading below short- and medium-term moving averages and posting a 3.31% intraday drop to $182.39.
Momentum indicators signal prevailing weakness, as oversold conditions and neutral oscillators suggest limited upside potential.
Price is likely to fluctuate within a $174.75–$190.03 range over the next several days, with a 78% probability of further downside.

Seller dominance holds with resistance at Kijun and mixed momentum

On the hourly chart, QCOM is trading below both its 20-period and 50-period moving averages, while still remaining above the long-term 200-period moving average. Immediate resistance is defined by the Ichimoku Kijun level at $189.04, and support sits at the long-term MA-200. Across intraday indicators, the Relative Strength Index (RSI) reads 45.33 and signals a Sell condition, while both the Commodity Channel Index (CCI) and Bull/Bear Power flag oversold status with evident seller dominance. The Moving Average Convergence Divergence (MACD), Average Directional Index (ADX), Stochastic RSI, and the Awesome Oscillator all present neutral signals, highlighting mixed momentum and a divergence among oscillators.

Downside move favored as volatility range narrows

Looking ahead to the next several trading days, the projected range for QCOM is $174.75 to $190.03, reflecting a volatility band relative to current levels. The baseline scenario is for QCOM to trade sideways between these bounds. A bullish case would require the price to break above the $189.04 resistance and exit the upper end of the band, while a bearish scenario would see the price drop through support and approach the $174.75 level. Probabilities currently favor a downward move (78%) versus an upward breakout (22%).

Anton Kharitonov, analyst at Traders Union, sees Qualcomm trading under pressure, with technical signals showing clear seller dominance and sideways movement as the base case. The lack of supportive news flow and mixed momentum indicators further reduce conviction for any near-term upside. He maintains a cautious stance, closely monitoring the $189.04 resistance and $174.75 support. "Unless buyers reclaim the $189.04 level, I remain defensive and expect further weakness in QCOM."

Earlier, analysts noted that Qualcomm shares had displayed strong upward momentum, underpinned by strategic moves in AI and positive technical signals. The recent deterioration in technical conditions and a persistent bias toward further downside now highlight the importance of monitoring whether support near the long-term moving average can contain additional selling pressure.

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.