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Look for Shares of Qualcomm Inc to Potentially Rebound after Yesterday's 2.55% Sell Off

By James Quinn

Qualcomm Inc (NASDAQ:QCOM) traded in a range yesterday that spanned from a low of $79.85 to a high of $81.39. Yesterday, the shares fell 2.5%, which took the trading range below the 3-day low of $82.31 on volume of 3.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is monitoring the recent change of momentum in Qualcomm Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Qualcomm Inc in search of a potential trend change.

In the past 52 weeks, shares of Qualcomm Inc have traded between a low of $48.92 and a high of $86.30 and are now at $81.19, which is 66% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.3%.

Keywords: rebounders qualcomm inc

Ticker(s): QCOM