Qualcomm Looks Vulnerable
Shares of Qualcomm (QCOM) appear headed for a significant pullback. After an impressive five-week rally, the telecom giant began to show signs of waning upside momentum last week. Today, despite a move to fresh rally highs in the Nasdaq-100, Qualcomm was unable to trade on the plus side. The stock was off just 1.4% at midday, but the divergent action should be a warning for Qualcomm bulls.
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