The current technical indicators for Qualcomm (NASDAQ:QCOM) suggest a mixed signal for the short-term price movement:
- Recent Price Performance: Qualcomm's closing price on April 16, 2025, was $135.74, representing a 2.06% decrease from the previous day1. This recent decline indicates a bearish momentum that could persist in the short term.
- Moving Averages: The 5-day moving average is $137.44, the 10-day moving average is $135.2, and the 50-day moving average is $155.96. The fact that the short-term moving averages are below the long-term moving averages suggests a downtrend, potentially indicating further declines in the short term2.
- MACD and RSI: The Moving Average Convergence Divergence (MACD) is -0.46, and the Relative Strength Index (RSI) is 42.07. These values suggest that the stock is neither overbought nor oversold, but the MACD being negative could indicate a potential continuation of the current trend downwards.
- Support and Resistance Levels: The support level is at $129.29, and the resistance level is at $144.86. With the stock trading closer to the support level, there is a risk of a further decline if the support level is breached3.
- Fibonacci Retracement: The 0.382 Fibonacci retracement over the past year is $145.84, and the 0.618 Fibonacci retracement is $166.09. These levels are above the current trading price, suggesting that there is a gap up rather than a potential support level from these Fibonacci levels4.
In conclusion, the technical indicators for Qualcomm suggest a bearish outlook for the short-term price movement. The stock is currently trading below its short-term and long-term moving averages, and the recent price performance has been negative. The support level and the MACD indicate potential for further declines, while the RSI suggests the stock is not overbought. However, it's important to note that technical analysis is just one aspect of investment decision-making, and it should be used in conjunction with fundamental analysis and other market factors.
4/17/2025 06:02am
