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Next Support Level for Qualcomm Inc (QCOM) is $51.40

By Shiri Gupta

Qualcomm Inc (NASDAQ:QCOM) has opened bearishly below the pivot of $52.25 today and has reached the first level of support at $51.72. Investors may be interested in a cross of the next downside pivot targets of $51.40 and $50.55.

There is potential upside of 20.8% for shares of Qualcomm Inc based on a current price of $51.45 and an average consensus analyst price target of $62.16. The stock should find initial resistance at its 50-day moving average (MA) of $51.53 and further resistance at its 200-day MA of $52.93.

In the past 52 weeks, shares of Qualcomm Inc have traded between a low of $50.84 and a high of $71.62 and are now at $51.45, which is 1% 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 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.

Keywords: pivot alerts qualcomm inc

Ticker(s): QCOM