QUALCOMM Incorporated stock breaks down on 20% handset drop, $150 in sight

QUALCOMM Incorporated stock tumbled to $155.68 on July 29 after a weak profit forecast and a 20% handset revenue drop triggered aggressive selling. The shares now sit below all major moving averages, deep in technically oversold territory.

Key takeaways

• QUALCOMM Incorporated stock closed at $155.68 on July 29, below its daily Bollinger lower band of $158.32.
• Handset revenue dropped 20% in Q3 FY2026, while automotive revenue surged 61% year-over-year.
• Daily RSI at 32.32 and hourly RSI at 26.98 both reflect sustained selling pressure across timeframes.
• The daily MACD histogram continues to expand negatively at -1.04, with no momentum recovery in sight.
• Key support rests at $152.27; a breakdown below could open the path toward $150.

Daily Bias: QUALCOMM Incorporated Stock Forms a Bearish Structure

The daily bias is decisively bearish. QUALCOMM Incorporated stock closed at $155.68, well below the EMA20 at $176.49, EMA50 at $184.95, and EMA200 at $172.61. This is a structurally bearish alignment with no ambiguity.

… Continue reading the full article at the original source below.