Home / Business and Economy / Qualcomm Stock: Bulls Reclaim $160 Floor
Qualcomm Stock: Bulls Reclaim $160 Floor
5 Dec
Summary
- Qualcomm shares rebounded above $168, with $160 acting as strong support.
- The stock maintained its upward trend despite November's selling pressure.
- Analyst sentiment remains positive, viewing recent dips as buying opportunities.
Qualcomm Inc. (NASDAQ: QCOM) shares have shown renewed strength, trading above $168 as of Monday's close. This rebound follows a period of significant selling in November, with the stock finding firm support around the $160 level, a former resistance zone. This technical resilience suggests a positive outlook as the company heads towards 2026.
The stock has successfully navigated a challenging November, maintaining its position within a rising channel that has been in place since April. Each significant dip has resulted in a higher low, indicating consistent demand and accumulation. The recent defense of the $160 floor, coupled with a move back towards $170, highlights strong bullish support.
Momentum indicators, including a turning Relative Strength Index (RSI) and an impending bullish crossover on the MACD, further bolster the optimistic view. This technical strength aligns with analyst sentiment, many of whom perceive Qualcomm's recent price weakness as a strategic buying opportunity rather than a sign of trend reversal.
