• Return to Headlines

Qualcomm Inc (QCOM) Breaks Through Support at $58.75

By Shiri Gupta

Qualcomm Inc (NASDAQ:QCOM) has opened bearishly below the pivot of $60.08 today and has reached the first level of support at $58.75. Analysts will be watching for a cross of the next downside pivot targets of $57.81 and $55.54.

Qualcomm Inc (NASDAQ:QCOM) has potential upside of 23.9% based on a current price of $58.75 and analysts' consensus price target of $72.79. The stock should discover initial support at its 200-day moving average (MA) of $52.93 and subsequent support at its 50-day MA of $51.53.

In the past 52 weeks, Qualcomm Inc share prices have been bracketed by a low of $48.92 and a high of $71.62 and are now at $58.75, 20% 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 recommended that its subscribers protect gains by selling shares of Qualcomm Inc on February 6th, 2018 by issuing a Downtrend alert when the shares were trading at $63.36. Since that call, shares of Qualcomm Inc have fallen 5.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts qualcomm inc

Ticker(s): QCOM