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Watch for Qualcomm Inc to Potentially Rebound After Falling 6.85% Yesterday

By Amy Schwartz

Qualcomm Inc (NASDAQ:QCOM) traded in a range yesterday that spanned from a low of $57.60 to a high of $60.15. Yesterday, the shares fell 6.9%, which took the trading range below the 3-day low of $62.28 on volume of 15.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Qualcomm Inc on October 10th, 2018 by issuing a Downtrend alert when the shares were trading at $68.09. Since that call, shares of Qualcomm Inc have fallen 7.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Qualcomm Inc share prices have been bracketed by a low of $48.56 and a high of $76.50 and are now at $59.32, 22% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

Keywords: rebounders qualcomm inc

Ticker(s): QCOM