Qualcomm Under Some Pressure. Watch These Levels

Qualcomm Inc.(NASDAQ:QCOM) is a leading tech stock in the communication equipment space. The stock is trading slightly lower this morning by 0.36 cents to $53.38 a share. The Nasdaq 100 is also under some slight pressure and this could force QCOM stock lower. The stock will have some short term intra-day support levels around the $52.45 area and more support around the $51.90 level. Both support levels could see small intra-day bounces.

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Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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