QUALCOMM INC (QCOM-Nasdaq): Technical Viewpoint: From a low of $65.49 on Jun 21, 2004 prices rallied, reaching a high of $73.50 on Jul 1, 2004. A decline saw prices pull back, reaching a low of $68.19 on Jul 16, 2004. Another rally saw prices penetrate resistance, closing 8/2/04 at $72.06. Technicals: Stochastic Oscillator (STOC): A Buy Alert! was given on Aug 2, 2004 when the solid line crossed the dotted line to the upside. Support: Remains at $68.50. Resistance: Is at $72.97. Point & Figure: Reversed to the upside on Aug 2, 2004. A P&F upside reversal takes place at $71.00. Summary: Technical indicators have turned bullish. BUY! QUALCOMM INC (QCOM-Nasdaq) @ $72.63 Stop: Use a protective stop of $69.88. QUALCOMM INC is currently trading @ $72.06 plus $2.85 on Aug 2, 2004. Price Objective: $83.00. Risk/Reward: $2.75 VS. $10.37. Today's Risk Reward Ratio: 4:1