[Entering Position in Qualcomm (QCOM)]
Dear Member:
I have been watching Qualcomm (QCOM) for quite some time. It has moved back above the 40 day moving average and stochastics have turned up on the daily chart. It has broken above resistance and I am looking to enter a relatively small position for starters by placing an order to buy at a limit of $40.55 for the day. A break below $39 would be reason to exit if I am wrong on the direction. The first upside target would be around $43.25.
DISCLOSURE: At the time of publication, I have no position in QCOM.
Sincerely,
Bill Kraft
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