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

To: Jim Willie CB who wrote (53520)	12/10/1999 6:59:00 PM
From: Ruffian	Read Replies (1) \| Respond to of 152472

qcom will break out soon!! by: ala3838 12/10/1999 6:42 pm EST Msg: 68023 of 68026 tradetrek.com QCOM $395.00 +5.75 (+10.56) We could whine about the pullback from the breakout on Monday, but we knew QCOM was slightly weak because the volume wasn't up to its usual levels. Nonetheless, we're not going to reverse our stance on volume requirements on a $400 stock - it's necessary and we need to see it. We shouldn't be giving a stock a pass on that issue just because the price got high in a hurry. That said, $390 and $385 support was broken on the way down to $380 today. That tested an "old" level of support from last week. If you recognized that on the chart and acted on the strong bounce, you made a perfect entry and a lot of money on the rebound. While we may be in for more turbulence, QCOM isn't finished yet. It's volume remains low as it consolidates in the $390-$400 range in anticipation of making a strong run (we expect with increased volume) into the shareholders' meeting, where we expect the 4:1 split to be approved and new share authorized. An added bonus (likely we think) would be the disclosure that QCOM has found a buyer for their handset business - what a perfect time to announce! We hasten to add that the higher lows of support and continuing resistance over $400 are really packing the powder for an explosive breakout as soon as volume returns. Target shoot to level of comfort for the best entry or wait for the real breakout with volume.