Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 165.13

+1.1%

Nov 26 3:59 PM EST

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To: Jim Willie CB who wrote (44056)	10/11/1999 2:28:00 PM
From: finfan	Read Replies (1) of 152472

Jim Willie and QCOM holders, QCOM is by far my favorite stock for the second half of the year. However, I do have some concerns to share with the thread about near term price direction. Here is my take on QCOM price movement over the next few days or 2 weeks. I am asking all QCOM lovers to read this and give me their thoughts. QCOM has been in a gorgeous uptrending channel since early April. Today's price of 221 or 222 his the top line of this upchannel. The up channel has verifications 5 times on each line since April, which is a very strong confirmation that it is a very very very valid up channel. Another point that supports the price direction for QCOM is the volume. The 30 day volume regression line shows a downtrending line. I can see QCOM dropping to the 190-200 range over the next 10 to 14 trading days and get close to the lower line of the up channel before turning up again. When it turns up, it should hit 240-250. There is a big IF, though. Should QCOM take out the top line of the up channel convincingly, it will stay in blue sky territory. I personally will wait until Tuesday or Wednesday for a confirmation one way or the other. No matter what, QCOM is a stock to keep. The above is strictly my thoughts as a trader and an investor.

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