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SmarTrend Watching for Potential Pullback in Shares of Qualcomm Inc After 2.63% Gain

By David Diaz

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.

Qualcomm Inc share prices have moved between a 52-week high of $96.17 and a 52-week low of $49.10 and are now trading 62% above that low price at $79.67 per share. The 200-day and 50-day moving averages have moved 0.02% higher and 0.87% lower over the past week, respectively.

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