BARCLAYS MAINTAINS BUY RATING FOR QUALCOMM | JANUARY 21, 2019
The consensus rating amongst analysts who cover Qualcomm (QCOM) has a average price target of $67 which is a 22.3% upside potential from current levels. Another firm called Canaccord Genuity has a price target of $75 with a buy rating as well.
Here is what the price chart is reflecting:
Currently, QCOM is trading within an ascending triangle. This is reminiscent of strength being here in the long term. But over the last three months QCOM has seen a decrease in price. QCOM has entered a 'Change In Tone'. This stock is weak and currently the price chart is forecasting more movement to the downside. The stock can hold support around the ascension line which is drawn on this chart which is around $50.00. Also, QCOM is estimated to release their earnings on January 30, 2019. This could spur a quick and dramatic move to the downside.
The price chart for QCOM is not in agreement with the Barclays ratings of Buy.