Is QUALCOMM Closing in to Resistance?
Published on Wednesday, 06 February 2013 08:36 Written by TradersHuddle Wire
New York, February 6th (TradersHuddle.com) - Shares of QUALCOMM Incorporated (NASDAQ:QCOM) are trading very close to calculated resistance at $67.44. The stock ended the trading session at just $66.95, which is near levels that make it difficult to buy or start a position.
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.
QUALCOMM's stock range is defined by its calculated support defined at $60.22 and by the resistance level at $67.44; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.
Traders don't have a clear entry point for QUALCOMM. However, as the stock pulls back towards $60.22 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $67.44 then traders will get an opportunity to enter the stock as it moves to a higher range.
- Boeing Flies First 787-9 Dreamliner
- Boeing Announces Montana Site Expansion and 787-10 Work
- Critical Alerts For Micron Technology, Caterpillar, Nike, Seagate Technology, and Humana Released By InvestorsObserver
- Is Apple Breaking Down?
- Boeing Forecasts Growing Need for New Pilots in Asia Pacific Region
- Caterpillar Inc. Group President and Director of Investor Relations to Participate in the Citi 2013 US and European Industrials Conference on September 17; Webcast Available
- Apple is Near a Key Support Area
- Is Apple Close to Probable Support
- Apple Is Near Resistance
- Boeing Forecasts China's Fleet to Triple Over Next 20 Years
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines