[May 22, 2012] QUALCOMM (QCOM) Approaches New Upside Target of $58.61 Tweet May 22, 2012 (SmarTrend(R) News Watch via COMTEX) -- Shares of QUALCOMM (NASDAQ:QCOM) opened today above their pivot of $56.88 and have already reached the first level of resistance at $57.92. Analysts will be watching for a cross of the next upside pivot targets of $58.61 and $60.34. Potential upside of 24.5% exists for QUALCOMM, based on a current level of $58.03 and analysts' average consensus price target of $72.24. QUALCOMM shares should encounter resistance at the 50-day moving average (MA) of $64.48 and support at its 200-day MA of $57.22. In the past 52 weeks, shares of QUALCOMM have traded between a low of $45.98 and a high of $68.87 and are now at $58.03, which is 26% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.6%. SmarTrend recommended that its subscribers protect gains by selling shares of QUALCOMM on April 19th, 2012 by issuing a Downtrend alert when the shares were trading at $63.56. Since that call, shares of QUALCOMM have fallen 10.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- 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 [ Back To TMCnet.com's Homepage ]