Trading Idea: Is QUALCOMM Breaking Out?
Published on Wednesday, 08 August 2012 08:36 Written by TradersHuddle Wire
New York, August 8th (TradersHuddle.com) - Shares of QUALCOMM Incorporated (NASDAQ:QCOM) closed the session at $61.34 just above calculated resistance at $60.19. The stock moved to what appears to be a higher range, spurring attention from momentum buyers.
QUALCOMM Incorporated (NASDAQ:QCOM) develops and delivers digital wireless communications products and services based on ots CDMA digital technology. It provides integrated CDMA chipsets and systems software, technology licensing, Eudora email software, and satellite based systems.
The stock was trading in a well defined range with support at $53.09 and resistance at $60.19. Given that this range was broken, traders will be closely monitoring QUALCOMM's price action to gather clues on the future direction.
From a technical perspective, it can be expected that previous resistance becomes support, as the new range gets defined. However, given that QUALCOMM is still near the broken resistance level, traders will be focusing on the $60.19 level to see if the stock holds the breakout without rolling over.
- 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
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- 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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