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Look for Shares of Qualcomm Inc to Potentially Rebound after Yesterday's 3.96% Sell Off

By David Diaz

Qualcomm Inc (NASDAQ:QCOM) traded in a range yesterday that spanned from a low of $49.95 to a high of $51.90. Yesterday, the shares fell 4.0%, which took the trading range below the 3-day low of $51.56 on volume of 8.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for Qualcomm Inc and will alert subscribers who have QCOM in their portfolio or watchlist when shares have changed trend direction.

Over the past year, Qualcomm Inchas traded in a range of $50.04 to $71.62 and are now at $50.08. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has remained constant.

Keywords: rebounders qualcomm inc

Ticker(s): QCOM