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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Pink who wrote (48196)	11/7/1999 12:19:00 AM
From: Anthony@Pacific	Read Replies (1) \| Respond to of 152472

Subject 31624

To: Mr. Pink who wrote (48196)	11/15/1999 5:47:00 AM
From: Teresa Lo	Respond to of 152472

Some more thoughts on recent price action of QCOM... The Nasdaq 100 index has been going straight up for over two weeks since breaking out of a consolidation pattern on the daily chart. Some of the stocks have been moving up in a parabolic fashion and are vulnerable to a sudden setback. For example, QCOM has doubled over the past two weeks and on the 15-minute chart, the ADX reached 67 in this time frame. Usually we observe climaxes in the 60-70 area. At the high, QCOM made a bearish engulfing pattern and pulled back to end the day on a retracement back to the 20-period EMA. If buyers are found here, then the target would be a bounce to test the high. On the daily chart, QCOM remains in an uptrend. With ADX at 51, there is still room left to move to the upside, but given that $400 is a nice round number, traders are apt to be very aggressive in protecting their profits right here. Charts specific to these comments have been posted to intelligentspeculator.com Mr. Pink - Good to see an old face again :-)