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

To: Caxton Rhodes who wrote (125490)	11/15/2002 1:11:37 PM
From: slacker711	Respond to of 152472

I cant post the charts but a technical analyst on RealMoney.com agrees with you.... thestreet.com A regular reader of mine asked me to take a look at Qualcomm (QCOM:Nasdaq - news - commentary - research - analysis), and since I drive by Qualcomm Stadium in San Diego several times a week, it seemed like a reasonable request. Let's look at the weekly chart for trends. Qualcomm found firm support on this weekly chart at around $25, and it's finally in an uptrend. The middle Bollinger Band is trending higher, and Qualcomm is walking the upper Band. Notice how the Bands squeezed tight during September, revealing a tight trading range that was just bound to explode. The bullish money flow gave an early warning of an upside breakout, but that was then. What about now? Look at the daily chart. Thursday's strong close on heavier-than-average volume took out the October high and also ran decisively above resistance. I would look for Qualcomm to move higher. My target would be around $45 or so. But a drop back below $35 indicates that this breakout was a fakeout and that Qualcomm has more work to do.