QCOM Option Trade – BUY Watchlist

03/02/2010, at 5:10 pm

QCOM

Following a significant sell-off during FEB QCOM raised its dividend today, causing a high-volume reversal.  We believe QCOM may have made its new low for quite some time yesterday @ ~$35.50

We would have liked to see QCOM close back above its downsloping 20-Day MA but we will be watching closely for a follow-up move back above this key ST resistance.  If successful, we would expect QCOM to make a slow and steady climb back into the mid-40′s.

Keep an eye on QCOM for a continuation of its reversal to the upside.

Coach BD

Filed Under: Alerts & News, Watch-list
Tags: QCOM