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TMCNet:  QUALCOMM (QCOM) Breaks Through Resistance at $65.58

[February 25, 2013]

QUALCOMM (QCOM) Breaks Through Resistance at $65.58

Feb 25, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of QUALCOMM (NASDAQ:QCOM) opened today above their pivot of $65.13 and have already reached the first level of resistance at $65.58. Analysts will be watching for a cross of the next upside pivot targets of $66.23 and $67.33.

QUALCOMM (NASDAQ:QCOM) has potential upside of 15.9% based on a current price of $65.93 and analysts' consensus price target of $76.39. The stock should find initial support at its 50-day moving average (MA) of $64.27 and further support at its 200-day MA of $61.03.

QUALCOMM share prices have moved between a 52-week high of $68.87 and a 52-week low of $45.98 and are now trading 43% above that low price at $65.93 per share. The 200-day and 50-day moving averages have moved 0.06% higher and 0.16% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of QUALCOMM on November 8th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $61.59. Since that recommendation, shares of QUALCOMM have risen 5.2%. We continue to monitor QCOM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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