SAN DIEGO, CA – Qualcomm Incorporated (NASDAQ: QCOM) shares took a significant hit on Thursday, ending the session with a notable loss that points to potential further weakness as a new trading week begins. The semiconductor giant closed at
2.31 (1.50%).
The day’s trading was a clear win for the bears. After opening at $154.23, the stock immediately came under heavy selling pressure, plunging to a daily low of $150.63 before noon. While the stock managed to find some footing and trade sideways for the remainder of the afternoon, it failed to mount any significant recovery.
Although a minor bounce to $151.75 occurred in after-hours trading, this small gain does little to offset the overwhelmingly negative price action seen during the main session.
What This Means for Monday
Based on Thursday’s performance, the technical outlook suggests the market is likely to go DOWN on Monday. Here’s why investors should be cautious:
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Dominant Selling Pressure: The most telling sign is the stock’s performance throughout the day. It fell sharply from the open and was unable to reclaim any meaningful ground. This indicates that sellers were in firm control from start to finish.
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Closing Near the Lows: Qualcomm closed much closer to its daily low (
155.12). This weak close demonstrates a lack of buying conviction and suggests that the negative momentum could easily carry over into the next session.
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Failed Support: The stock opened well below the previous day’s close and continued to fall, showing a clear breakdown in support. The failure of buyers to step in and drive the price back up signals a significant lack of demand.
The minor after-hours uptick is likely due to short-covering rather than a genuine shift in sentiment. Investors on Monday will be watching the intraday low of $150.63. A breach of this level would confirm the bearish trend and could open the door to further losses for the chipmaker.
