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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 159.42-1.2%Jan 16 3:59 PM EST
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To: waverider who wrote (75878)7/8/2000 1:03:42 PM
From: Return to Sender  Read Replies (1) of 152472
 
Technical Analysis Update - In My Opinion Only:

Last weekend I mentioned that QCOM might move into a buy range in the mid to high 50's. The stock has indeed fallen to that level. This is positive because many short term holders have already sold. The stock has also fallen to a relative strength level of 20%. This is positive because the stock is oversold.

Unfortunately the stock continues to skirt above the lower bollinger band trend line. This is negative and may indicate that the stock will continue to fall before it can attempt a return to higher levels. The lower bollinger band probably will be violated by one more day, or more, of heavy selling.

I now believe that a fall to 50 or below may be inevitable before the stock begins a sustainable rise again. It could of course go lower if the slow descent of the stock continues.

RTS
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