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Watch for Qualcomm Inc to Potentially Pullback After Gaining 3.03% Yesterday

By Nick Russo

Qualcomm Inc (NASDAQ:QCOM) traded in a range yesterday that spanned from a low of $76.01 to a high of $77.43. Yesterday, the shares gained 3.0%, which took the trading range above the 3-day high of $75.97 on volume of 2.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Qualcomm Inc has traded in a range of $48.56 to $90.34 and is now at $77.24, 59% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.6%.

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: rebounders qualcomm inc

Ticker(s): QCOM