Qualcomm On The Move

Qualcomm Inc.

shares are trading higher by $1.50 at $54.26 in Friday's session. There is no significant news out on the issue to account the rally. After a slighlyy higher open, it declined only a dime and found support just ahead of Thursday's close ($52.76), only reaching $52.87 before resuming its move higher. So far, it has reached $54.28 and a this time has not backed off. This marks the highest level for the issue since it made a pair of highs at the $52.50 area back in early March.