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After Yesterday's Rally of 3.25% Shares Could Potentially Pullback

By David Diaz

Qualcomm Inc (NASDAQ:QCOM) traded in a range yesterday that spanned from a low of $76.83 to a high of $77.98. Yesterday, the shares gained 3.3%, which took the trading range above the 3-day high of $77.82 on volume of 417,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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.

Over the past year, Qualcomm Inc has traded in a range of $49.10 to $96.17 and is now at $77.74, 58% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.2%.

Keywords: rebounders qualcomm inc

Ticker(s): QCOM