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Bearish Moving Average Cross by QUALCOMM (QCOM)

By Amy Schwartz

QUALCOMM (NASDAQ:QCOM) shares have crossed bearishly below their 10-day moving average of $53.29 on a volume of 1.9 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of QUALCOMM have traded between a low of $42.24 and a high of $78.53 and are now at $52.67, which is 25% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.5%.

SmarTrend recommended that subscribers consider buying shares of QUALCOMM on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.77. Since that recommendation, shares of QUALCOMM have risen 12.1%. We continue to monitor QCOM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Qualcomm

Ticker(s): QCOM