Qualcomm Share Price – Qualcomm (QCOM) Stock Forecast for 2020 and 2021 An uptrend on the long-term chart indicates a huge upside potential for Qualcomm (QCOM) with a target of $125 for 2020 or 2021.
Qualcomm (QCOM), a semiconductor stock with a market capitalization of $95 billion, made a historic move in May this year, rising from $57 to $88 in just one week. Qualcomm is known as a 5G player. So, as soon as the hype about 5G starts to materialize, we expect QCOM to increase significantly! This is the investment thesis and the basis used when writing this Qualcomm (QCOM) stock forecast for 2020 and 2021. market forecast.
Qualcomm Share Price
First, as mentioned in our 2020 forecast, we expect a bullish year for global stocks, especially US stocks.
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To illustrate this, we read the Dow Jones forecast for 2020 and 2021 (32,000 points). We expect the Dow Jones to reach 32,000 in 2020!
Second, the 5G industry should rise in 2020. This will be the main indicator of our forecast for Qualcomm stock: the strength of the industry.
We have not seen the power in the 5G industry. We expect to see a major entry into this industry at some point. When we want to enter, it makes no sense to invest early.
The next chapter for Qualcomm (short code: QCOM) is all about developing 5G networks and equipment. J. P. Morgan’s Samik Chatterjee sees an acceleration in Qualcomm’s 5G-related earnings early next year.
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Qualcomm says 5G adoption will be faster than 4G due to the timing of the technology’s commercialization in China and the availability of chipsets at different price points. Based on Qualcomm’s previous forecast for 175 million to 225 million 5G devices next year, the 2021 forecast predicts a 125% growth relative to the midpoint of the 2020 outlook.
The second leading indicator will help us with the entry time, while the leading indicator 1 aims to confirm the bullish condition of the overall chart.
Recently, Qualcomm’s stock price suffered a confidence leak as Broadcom’s intention to acquire Qualcomm was blocked. However, Qualcomm had a good time from 1992 to 2000. Since then, the price has been consolidating in a triangle for the past 18 years. We consider Qualcomm in a consolidation phase until the price drops below $48.
As seen on the weekly chart, Qualcomm is trading at $50. Long-term moving average. With the bad news mentioned above, why would anyone buy this stock?
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Qualcomm is the kind of stock that rises even in a bad year like 2018. It’s the kind of long-term hold you want to invest more in your portfolio when the 5G buzz starts.
Above the benefits provided by breaking the 18-year-old consolidation model, we set a record for Qualcomm with a 2019 price estimate of $95 to $100.
QCOM has reached USD 95 and is correcting but still very bullish, read on to find out why!
We don’t care about finances, but we need a chart to guide us in the right entry.
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What we are seeing is a clear bullish setup underscoring the bullish outlook for Qualcomm stock for 2020 and 2021.
This horizontal break is strong. Note that there was a failed attempt earlier this year. After 3 consecutive weeks of closure, the breakout did not continue!
We are now looking at the 4th week in a row above 80 USD. This is as close as possible to a breakout confirmation.
Therefore, horizontal tweens are the most powerful of all chart setups. That’s why QCOM’s monthly chart is so impressive.
Qualcomm Stock Price Predictions
There is no resistance after 83 USD cleared for 3 consecutive weeks and 3 consecutive months. Based on this good chart layout, we expect a sharp rise in 2020.
The flip side of this story is that QCOM has dropped below $83. This will likely delay, invalidate, our bullish forecast.
In the long run, QCOM’s stock price could rise higher. We should revise our forecast for the stock if the market reaches $125. The main thing to consider is the 5G buzz that is expected to appear in 2020 or 2021. This will be the main impetus for the higher price forecast for QCOM.
Taki has +15 years of experience in the global market. The methodology is unique and effective, but easy to understand; It is based on chart analysis combined with market/fundamental/sensitivity analysis. His work has been featured in major financial publications such as FinancialSense, MarketWatch, … Email: taki.tsaklanos@gmail.com. Twitter: twitter.com/Qualcomm Incorporated (QCOM), after an 18-year “leap” that began in the low tens at the end of the 2002 bear market, is finally approaching the historical test of the 2000 bubble peak. The stock has established this old mark, with a much stronger long-term return from the San Diego-based digital communications giant. Boom was finally able to lift that infinity cloud and allow Qualcomm stock to flow freely into the triple digits.
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The company became the poster child for the Internet bubble in December 1999 when PaineWebber Group analyst Walter Pieczyk made market history by launching coverage with a $1,000 price target. The stock traded around $350 before the split on the call and reached $400 after just two sessions. leading to a three-week free fall of 47%, warning investors that the tech bubble is about to burst.
It took almost ten years for Qualcomm to overcome this event, which is often repeated in the financial pages as an example of financial excesses in the period, and the downward trend. The stock has had better luck so far this decade, but its nine-year return of 80% is below that of its major tech rival, which pushed the Nasdaq 100 to its all-time high.
The company went public with a 55-cent split in 1991 and continued to decline, reaching a record low of 39 cents in 1992. First Quarter 1999. The stock then entered a vertical upswing and fell 47 points by the end of the month, hitting a historic high of $100.00 in January 2000. It broke the lower support in the second quarter and finally confirmed the downtrend which ended at $11.60, in August 2002.
A strong rally in 2006 stopped in January 2000 low resistance $ 50, attempted breakout in 2008 failed and led to a steady downtrend during the economic crash, followed by a strong recovery wave that drove a 100% reversal to the high of 2006. followed. In 2011, the subsequent breakout recorded significant gains in 2014 when the rally ended with the .786 Fibonacci retracement of the internet bubble burst.
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The stock tested support at the 200-month exponential moving average (EMA) for the fourth time in February 2019 and rebounded in the second quarter, adding resistance at the 2014 peak in April and retreating. It broke above this peak about two weeks ago, reaching a 19-year high of $94.11 and has now closed the gap since November 7th. The 50-day EMA is close to the .786 retracement below $80, marking a line in the sand for this test of support, and a further decline signals a failed breakout.
The monthly Stochastic Oscillator has entered a buying cycle from the February 2019 oversold level and has yet to reach the overbought level. This favorable position gives bulls a modest advantage in the current test, increasing the probability of determined buyers to emerge and push the price above this month’s high. Given the binary bets, the majority of investors on the fringes should sit back for now and let other market players decide Qualcomm’s fate.
The .786 Fibonacci retracement level marks a high-level reversal point for a bounce after a long-term downtrend. The stock reached this harmonic level in 2014 and is still attempting a breakout in April 2019 and its confirmation supports the rapid trend progression to the 100% retracement at $100.00. In turn, this well-organized structure highlights the importance of current price action and the long-term impact on Qualcomm’s prospects.
The Accumulation-Distribution Volume Balance Indicator (OBV) ended the main spillover phase at the beginning of 2016 and was replaced by a stable buying interest, which peaked at the 2014 OBV in the summer of 2018. It broke above and held this level in April 2019, adding another reason for bulls to dominate in the coming weeks and set the stage for the highest historical test of 2020.
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Qualcomm broke above the last resistance level before the 18-year uptrend finally reached its highest level since 2000 and was tested.
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