QUALCOMM INC
(QCOM-Nasdaq):
Technical Viewpoint: From a low
of $35.13 on Aug 8, 2003 prices
rallied, reaching a
high of $46.05
on Sep 18, 2003. A
decline saw prices pull back, reaching a
low of
$41.00 on Oct 1, 2003.
Another rally saw prices penetrate
resistance, closing 10/28/03
at $47.00. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Aug 13, 2003 when the Histogram crossed the "0" line to the upside.
Support: Remains at $43.00. Resistance: Is at $47.41.
Point & Figure: Reversed to the upside on Oct 28, 2003. A P&F upside
reversal takes place at $45.50. Summary: Technical indicators have turned bullish. BUY! QUALCOMM INC
(QCOM-Nasdaq) @ $47.25 Stop: Use a protective stop of $45.25.
QUALCOMM INC is currently trading @ $47.00 plus $2.76 on Oct 28, 2003. Price Objective:
$57.00. Risk/Reward: $2.00 VS. $9.75. Today's Risk Reward Ratio: 5:1
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