QUALCOMM-The Wireless Wonder in 1999 Message Board

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Technology Stocks : QUALCOMM-The Wireless Wonder in 1999

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To: GO*QCOM who wrote (163)	3/29/2000 12:02:00 AM
From: GO*QCOM	Read Replies (1) of 343

Murphy: QUALCOMM Turns up By John J. Murphy President, MurphyMorris.com Special to CNBC.com FIRST-QUARTER LAGGARD. . .Throughout the first quarter, many large Internet stocks have been left behind. That appears to be changing. A recent rotation back into larger technology stocks is giving a boost to many former leaders, such as QUALCOMM Inc. {QCOM). PEAKED IN JANUARY. . .The accompanying chart shows that QUALCOMM peaked on Jan. 3 at 200 and lost almost half its value by the end of the month, falling to 105 on Jan. 28. Since then, the stock has moved sideways between resistance at 148 and support near 120 -- until this week. UPSIDE BREAKOUT. . .For the first time since January, QUALCOMM has moved back above the 148 level, which qualifies as an upside breakout -- and, in the process, has turned its trend from sideways to up. While there is still some chart resistance in the 160 to 163 region, this week?s bullish action suggests that QUALCOMM may be headed back toward its January peak near 200. YAHOO! ALSO TURNING UP. . .It may not be coincidence that Yahoo! Inc. {YHOO} is also hitting a two-month high. Both former Internet leaders are benefiting from the move back into larger Internet names, a trend that started when America Online {AOL} turned up a couple of weeks ago. -------------------------------------------------------------------------------- In addition to his frequent appearances on TV and as a guest speaker, Murphy and partner Greg Morris run MURPHYMORRIS.COM, a fee-based Web financial service that offers technical-analysis charts and investor-education materials.

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