QUALCOMM Incorporated (QCOM) Gets Bullish Confirmation

Shares of QUALCOMM Incorporated closed above the 200-day moving average of $54.14 on Wednesday. From a technical perspective, this is a sign of strength as long as prices remain above the stock’s moving average. Shares of QCOM settled the day up $1.63 to $54.75 on heavier than usual volume. Today, the stock price ranged between $54.08 and $55.12 per share.
Anyone observing the market will notice that investor expectations shift over the course of time. The development of support levels is probably the most discerning and reoccurring event on stock charts. Based on the pivot points, the current support and resistance levels for QCOM are $53.61 and $55.69 respectively.
Qualcomm Incorporated designs manufacture and markets digital wireless telecommunications products and services based on its CDMA technology and other technologies.
QUALCOMM Incorporated has market cap of 89.27B and is part of the technology sector and communication equipment industry. The stock has gained 4.06{e1f18614b95d3cd6e4b3128e1cd15d99b042a60a5a19c19b7a8e07e7495efa10} within the last quarter. The mean analyst rating for the stock is buy. The chart capture below shows historical performance of QCOM shares versus its 200-day moving average.