Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 159.42

-1.2%

Jan 16 9:30 AM EST

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To: TigerPaw who wrote (90548)	12/20/2000 11:59:03 AM
From: maxgo	Read Replies (1) of 152472

This post caused some minor disturbance yesterday at QRTS, FWIW scottcardiff 12/19/00 3:20 pm From a purely T.A. standpoint, QCOM is forming a head and shoulder top. Neckline. 68 in early Nov. through 75 at end of Nov. through 79 Friday. Left shoulder of 90, head of 107, right shoulder of 93 today. Neckline is currently 81 or so. A break of this neckline predicts a price target of 55. Additionally, Stochastics, Relative strength and money flow ALL formed lower tops on the head than on the left shoulder. Bad news. From a fundamental perspective 55 would be a PE of 65 on past 12 months earnings (.85/share after subtracting investment income). askresearch.com Make your own decisions, I am short from 92 today and will short more on neckline break. This may take up to 2-3 weeks for neckline break. It may break tomorrow, watch the neckline. Good luck. Disclosure: I called for a drop below earnings based on trendline break and was wrong. However, I also called QCOM a buy for a quick 20 points if it broke above 80 area in November, which was correct. Re: head and shoulders patterns. These are normally the MOST reliable reversal patterns.

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