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Qualcomm Inc (QCOM) Breaks Through Resistance at $57.96

By Nick Russo

Qualcomm Inc (NASDAQ:QCOM) has opened bullishly above the pivot of $57.35 today and has reached the first level of resistance at $57.96. Investors may be interested in a cross of the next upside pivot targets of $58.62 and $59.89.

Qualcomm Inc has overhead space with shares priced $57.47, or 8.3% below the average consensus analyst price target of $62.67. The stock should hit resistance at its 200-day moving average (MA) of $59.69, as well as support at its 50-day MA of $57.09.

Over the past year, Qualcomm Inc has traded in a range of $48.56 to $71.62 and is now at $57.47, 18% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

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