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QUALCOMM Bearish Moving Average Crossover Alert (QCOM)

By David Diaz

Today, shares of QUALCOMM (NASDAQ:QCOM) have fallen below their 10-day MA of $62.60 on a volume of 1.3 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.

QUALCOMM share prices have moved between a 52-week high of $78.53 and a 52-week low of $42.24 and are now trading 47% above that low price at $62.15 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has remained constant.

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 31.4%. 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