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Watch for Qualcomm Inc to Potentially Rebound After Falling 4.39% Yesterday

By James Quinn

Qualcomm Inc (NASDAQ:QCOM) traded in a range yesterday that spanned from a low of $59.13 to a high of $61.40. Yesterday, the shares fell 4.4%, which took the trading range below the 3-day low of $61.56 on volume of 24.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Qualcomm Inc share prices have moved between a 52-week high of $71.62 and a 52-week low of $48.92 and are now trading 23% above that low price at $60.05 per share. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has remained constant.

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