Qualcomm (QCOM) may find next support around $40 level

By Craig Jones
Benzinga Staff Writer
October 01, 2009 10:27 AM

Symbols: QCOM

Posted in: News, Short Ideas, Initiation, Technicals, Trading Ideas

Qualcomm Inc. (NASDAQ: QCOM) has already retraced to $43.84 in early traders on Thursday, coupled with slipping 20 days and 50 days moving average. QCOM is likely find its next support around $40, from wherre it started picking up in May this year, along with the reversal of its 200 days moving average.

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