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Qualcomm Inc (QCOM) Breaks Through Support at $64.90

By Shiri Gupta

Shares of Qualcomm Inc (NASDAQ:QCOM) have bearishly opened below the pivot of $65.10 today and have reached the first support level of $64.90. Analysts will be watching for a cross of the next downside pivot targets of $64.72 and $64.34.

Based on a current price of $64.79, Qualcomm Inc is currently 3.3% above its average consensus analyst price target of $62.67. The stock should find initial support at its 200-day moving average (MA) of $60.67 and further support at its 50-day MA of $59.70.

Qualcomm Inc share prices have moved between a 52-week high of $71.62 and a 52-week low of $48.56 and are now trading 33% above that low price at $64.79 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.9%.

SmarTrend recommended that subscribers consider buying shares of Qualcomm Inc on July 26th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $62.51. Since that recommendation, shares of Qualcomm Inc have risen 4.1%. We continue to monitor QCOM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts qualcomm inc

Ticker(s): QCOM