QUALCOMM INC
(QCOM-Nasdaq):
Technical Viewpoint: From a low
of $29.58 on May 17, 2003 prices
rallied, reaching a
high of $38.18
on Jun 19, 2003. A
decline saw prices pull back, reaching a
low of
$35.20 on Jul 1, 2003.
Another rally saw prices penetrate
resistance, closing 7/7/03
at $39.88. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Jun 3, 2003 when the Histogram crossed the "0" line to the upside.
Support: Remains at $35.20. Resistance: Is at $42.89.
Point & Figure: Reversed to the upside on Jul 7, 2003. A P&F upside
reversal takes place at $38.00. Summary: Technical indicators have turned bullish. BUY! QUALCOMM INC
(QCOM-Nasdaq) @ $40.13 Stop: Use a protective stop of $38.13.
QUALCOMM INC is currently trading @ $39.88 plus $2.52 on Jul 7, 2003. Price Objective:
$54.00. Risk/Reward: $2.00 VS. $13.88. Today's Risk Reward Ratio: 7:1
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