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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 177.78-2.2%Jan 9 3:59 PM EST
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To: Keith Feral who wrote (113215)2/13/2002 7:22:38 PM
From: Caxton Rhodes  Read Replies (4) of 152472
 
Today QCOM closed right on the upper downtrend channel line.

Tomorrow should be interesting, a close above 42 is a breakout. Longer term (within three months), we should see a breakout of the BIG downtrend line which currently resides around the low fifties. If qcom can break that, then things might start channeling up for the first time in 2 years.
The technicals match up with the fundamentals too. The summer nationwide launches of 1X in the U.S. by Sprint and VZ will show the world just how much superior CDMA2000 is to GSM, both in data speeds and capacity. Another thing to watch is the take up of 1XeV-DO services in Korea. This could be a major driver for CDMA2000 in Asia as cable, DSL, and even dial-up access to the net is limited. Of course its key to keep on eye on China Unicom which so far has been plagued by lack of handset availability. Good or bad news on the progress of Unicom will affect the stock. I don't expect we will hear anything positive about WCDMA for at least 6 months.

So if things go well in the next three months, we may finally get out of the "uglies", if not, hello 20s (I very much doubt we will hit the 20s, but if we don't start trending up in 3 months, I assume QCOM could break down from there).

Cheers,

Caxton
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