Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 170.90

-1.3%

Nov 7 9:30 AM EST

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To: marginmike who wrote (61567)	1/11/2000 8:59:00 PM
From: ddron	Read Replies (1) of 152472

Mike, Clearly QCOM is consolidating. It looks like that QCOM is currently retesting it's 20 EMA right now. Today's low was halted at precisely the bottom of the tall white candle made on 12/29(a lot of buyers there;good volume).It appears to have found support much like it did on Friday's tall white candle. On 1/7 the close actually penetrated the 20 EMA but found a lack of sellers. However, the hanging man candlestick drawn yesterday and the penetrating black candle made today should give some bulls concern that a retest of the top on 1/3 might come later than sooner. The one bright spot for bulls appears to be the lack of volume on the selloffs. The selloff since 1/3 has been on diminishing volume. Look for a retest of the top - we're consolidating folks. This horse is just taking a breather!(Below 100? That would be a long ride in the pasture for a company with a true franchise!) Cheers, ddron

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