Trading Idea: Entry Levels for QUALCOMM
Published on Tuesday, 03 July 2012 08:36 Written by TradersHuddle Wire
New York, July 3rd (TradersHuddle.com) - Shares of QUALCOMM Incorporated (NASDAQ:QCOM) finished near calculated support at $53.41.
The maker of integrated CDMA chipsets for wireless products closed at $55.67 leaving shares at a level that will spark interest by traders wanting to start or add to a position in the stock.
QUALCOMM's stock range is defined by its calculated support defined at $53.41 and by the resistance level at $59.69.
The area where we expect for buyers to materialize is defined as calculated support. A stock trading near its support level might see a lift, if it provides the necessary support for traders to place their buy orders. However, if this area is breached, it will signal participants that the stock failed to entice buyers to step in and support the stock, which in turn will spur additional downward momentum.Traders wanting to establish a position should pay close attention to QUALCOMM's price action, and establish it as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $59.69 might limit their upside, however, if the stock breaks resistance, it could be a good point to step in and add to the position.
- Entry points for QUALCOMM
- QUALCOMM Is Close to Resistance
- Trading Idea: What to Expect as QUALCOMM Breaks Resistance
- Entry points for QUALCOMM
- Is QUALCOMM Breaking Out?
- How to Play the Building Momentum in QUALCOMM
- QUALCOMM Is in a Well Defined Range
- Is QUALCOMM Closing in to Support?
- Trading Idea: Key levels for QUALCOMM
- QUALCOMM Is Approaching its 200 Day Moving Average
Related Partner Headlines
- Qualcomm Inc. (QCOM): Today's Featured Telecommunications Winner - TheStreet.com
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- Qualcomm Inc. Stock Buy Recommendation Reiterated (QCOM) - TheStreet.com
- UPDATE: Morgan Stanley Reiterates QUALCOMM at Overweight; Guidance Likely Conservative - Benzinga
- Qualcomm Offers Some Rare Outpeformance In Chips (QCOM, BRCM, TXN, AAPL) - Investopedia
- UPDATE: Cantor Fitzgerald Reiterates Buy Qualcomm, Raises PT to $69 - Benzinga
- Stocks To Watch For November 8, 2012 - Benzinga
- Qualcomm Jumps On Q4 Earnings Beat, Outlook - TheStreet.com
- Qualcomm Jumps on Q4 Results - Benzinga
- QUALCOMM Fourth Quarter Earnings - Investopedia
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