Qualcomm Stock Experiences Strong Bearish Trend Ahead Of Q3 Earnings Report
Portfolio Pulse from Surbhi Jain
Qualcomm Inc (NASDAQ:QCOM) is experiencing a strong bearish trend ahead of its Q3 earnings report. The stock is currently trading below its short-term moving averages, indicating ongoing selling pressure. Despite a long-term bullish signal, technical indicators suggest potential risks. Analysts, however, see a 34% upside with a consensus price target of $194.63.
July 31, 2024 | 1:43 pm
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Qualcomm Inc is experiencing a strong bearish trend ahead of its Q3 earnings report. The stock is trading below its short-term moving averages, indicating ongoing selling pressure. Despite a long-term bullish signal, technical indicators suggest potential risks. Analysts see a 34% upside with a consensus price target of $194.63.
The stock is currently trading below its 5, 20, and 50-day exponential moving averages, indicating ongoing selling pressure. The MACD indicator and RSI also support a bearish sentiment. However, analysts see a potential upside, which could mitigate some of the bearish impact.
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