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Qualcomm Inc Set to Possibly Pullback After Yesterday's Rally of 2.63%

By James Quinn

Qualcomm Inc (NASDAQ:QCOM) traded in a range yesterday that spanned from a low of $78.54 to a high of $79.83. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $78.51 on volume of 2.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Qualcomm Inc have traded between a low of $49.10 and a high of $96.17 and are now at $79.67, which is 62% 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 0.9%.

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