QUALCOMM INC (QCOM-Nasdaq): Technical Viewpoint: From a low of $64.73 on Jun 21, 2004 prices rallied, reaching a high of $71.77 on Jul 1, 2004. A decline saw prices pull back, reaching a low of $67.40 on Jul 19, 2004. Another rally saw prices penetrate resistance, closing 7/22/04 at $72.50. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on May 25, 2004 when the Histogram crossed the "0" line to the upside. Support: Remains at $67.50. Resistance: Is at $73.50. Point & Figure: Reversed to the upside on Jul 22, 2004. A P&F upside reversal takes place at $69.00. Summary: Technical indicators have turned bullish. BUY! QUALCOMM INC (QCOM-Nasdaq) @ $73.13 Stop: Use a protective stop of $70.63. QUALCOMM INC is currently trading @ $72.50 plus $4.82 on Jul 22, 2004. Price Objective: $83.00. Risk/Reward: $2.50 VS. $9.87. Today's Risk Reward Ratio: 4:1