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Non-Tech : The Critical Investing Workshop -- Ignore unavailable to you. Want to Upgrade?

To: stoxnstix who wrote (9310)	3/26/2000 1:02:00 PM
From: DepyDog	Read Replies (1) \| Respond to of 35685

NEW LONG PLAY 03/26/00 Qualcomm Inc. - QCOM $146.00 (+9.75) QCOM is a bear coming out of hibernation. We should all be familiar with this stellar performer of last year, and might have been asking ourselves where did it go? QCOM is focused in the communications industry, providing services, phones and devices which use the low earth orbit satellite system. After achieving a mammoth performance last year, QCOM has been asleep in a trading range for the last three months. Oscillating between a support area of $125, and a resistance of $145, QCOM is now showing signs of waking up for spring. Thursday, QCOM got a nice bounce off its 10, 20, and 50-dma's, which all converge around the $134 area, thus developing strong support. This rise took it right to resistance on increasing volume of 21.2-million shares. Friday was the icing, as QCOM broke above the $145 resistance to a high of near $153, and closed and the $146 mark. Again this occurred on increasing volume of 25.1-million shares. Many brokers and fund managers see QCOM as a candidate to participate in the next Tech rally, due to its recent range woes. The most recent was that of Prudential who upgraded QCOM from "Accumulate" to "Strong Buy", with a price target of $183. As wireless technology matures, QCOM is viewed as leading this area with many analysts expecting online communications to be performed by wireless phones and palm type computing devices. Revenues stand to increase dramatically as well for QCOM, as this transition takes place. QCOM was listed yesterday in Briefing.Com's technology watch list. They also state earnings growth, market position, and growth potential as reasons for picking QCOM. QCOM is scheduled to report earnings after the market close on April 18th. Whisper numbers have QCOM beating estimates of $0.24. As investors now start to focus on the earnings season, look for this to help fuel a rise with the technical factors indicated. Look at $145 as a possible candidate for support, with the recent breakout. Both the MACD and stochastic are signaling that this is the commencement of a new run. Since this is a breakout play, prudent investors should let QCOM trade above $153 on continued good volume. More aggressive investors may buy dips around support, although keep in mind a pullback is risky as it may indicate a false breakout. Look to place stops at $125 initially. Picked on Mar 26th at $146.00 Change since picked +0.00 Earnings Date 04/18 (Confirmed) Chart = netbulls.com