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QUALCOMM Bearish Moving Average Crossover Alert (QCOM)

By Shiri Gupta

QUALCOMM (NASDAQ:QCOM) crossed under its 10-day moving average of $66.96 on a volume of 1.9 million shares. Swing traders may find 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 $66.55, which is 58% above that low price. 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 40.8%. 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