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SmarTrend Watching for Potential Rebound in Shares of Qualcomm Inc After 2.79% Loss

By David Diaz

Qualcomm Inc (NASDAQ:QCOM) traded in a range yesterday that spanned from a low of $55.83 to a high of $56.85. Yesterday, the shares fell 2.8%, which took the trading range below the 3-day low of $57.02 on volume of 6.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Qualcomm Inc have traded between a low of $48.56 and a high of $76.50 and are now at $56.12, which is 16% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1.5%.

SmarTrend is monitoring the recent change of momentum in Qualcomm Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Qualcomm Inc in search of a potential trend change.

Keywords: rebounders qualcomm inc

Ticker(s): QCOM