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Qualcomm Dragonwing Q-7790 powers new system-on-module: Will QCOM hold $161.77 support?
Qualcomm is supplying its Dragonwing Q-7790 to IMD Technologies for a new AI-focused system-on-module targeting robotics and automation. The stock is down 11.1% on the day at $164.8.
QCOM price prediction
Current price:
$164.8
-20.6100
11.12%
Closed
10/30
Daily range
161.77
168.65
168.65
Weekly range
161.77
185.54
185.54
Loading...
Highlights
- Qualcomm is supplying its Dragonwing Q-7790 chip to IMD Technologies for an AI system-on-module targeting robotics and automation.
- Shares of Qualcomm are down 11.1% on the day at $164.8.
- Among 148 analysts covering Qualcomm, 44 rate the stock a buy and 12 recommend selling, with a median price target of $175.
Qualcomm said IMD Technologies is using its Dragonwing Q-7790 chip to power a new system-on-module. The solution delivers 24 trillion operations per second of AI performance. It is aimed at applications in robotics, industrial automation and intelligent vision.
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Bearish structure holds as opening gap down tests major supports
Qualcomm stock opened the session with a gap down from $185.41 to $167.29. The price remains below its MA-20, MA-50, and MA-200, reinforcing the bearish structure on the daily chart. RSI is now at 39, nearing oversold territory and suggesting that the recent decline is starting to look stretched. Nearby support sits at the weekly low of $161.77, providing the next area for traders to watch.
Odds strongly favor further downside as sellers control the weekly range
Traders should watch for a close above $169.52 to indicate buyers are beginning to regain control. The sharp move began with an opening gap down from $185.41 to $167.29, highlighting immediate selling pressure. From here, the downside probability is more than 80% and the upside probability is less than 20% for the coming trading week, with an expected range of $154.14 to $175.45. Even so, the past week has seen a sharp move lower without a sustained trend. A move below $161.77 would indicate further weakness, while a recovery above $169.52 would show the decline is being challenged. On the weekly chart the longer-term picture stays negative.
Previously it was reported that analysts expected continued downside risks and a bearish technical setup for Qualcomm shares. The current breakdown, despite new product developments, reinforces that caution is warranted, with the key risk now centered on whether support at $161.77 will hold in the coming days.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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