Melius Research Raises Qualcomm Price Target, Expects Further Upside in AI Semiconductor Stocks

Although the news is positive, the stock has surged sharply by 17.5% in the last 24 hours, with its RSI reaching 79, entering overbought territory. This increases the likelihood of profit-taking or sideways movement in the short term. While the MACD still signals a bullish trend, overbought conditions suggest that momentum may slow down. Therefore, short-term direction remains uncertain.

While the news headline reflects a positive outlook for the AI semiconductor sector, it is not specific to NVDA and carries a general sense of optimism. However, technical indicators paint a weak picture: the price is below both the 20-day and 50-day moving averages, the RSI is near the oversold zone at 38, and the MACD is below the signal line in negative territory. The 2.4% decline over the past 24 hours confirms short-term pressure. Positive news flow may provide some support, but the weakness in the technical structure makes it difficult to determine a clear direction. Therefore, a sideways or limited movement can be expected in the short term.

AMD shares have risen nearly 11% in the last 24 hours, with the RSI approaching overbought territory at 68. However, the MACD line remains above the signal line, indicating positive momentum. The news headline reflects a positive outlook for the AI semiconductor sector, supporting an upward expectation that includes AMD. While the short-term uptrend may continue, the elevated RSI level suggests a potential correction risk should not be overlooked.

Although the news headline offers a positive outlook for the AI semiconductor sector, it does not provide a direct catalyst for AVGO stock. Technical indicators paint a weak picture: the RSI at 44.8 is below the neutral zone, the MACD is below its signal line, and the price is trading below both the 20-day and 50-day moving averages. The 1.74% decline over the past 24 hours confirms negative short-term momentum. Therefore, the positive impact of the news may not offset the technical weakness, and the price is expected to trade sideways in the near term.