Tuesday, December 05, 2006

My Stock of the Day is Qualcomm (QCOM). I was going to highlight URBN, which is making a strong continuation breakout on rising volume. But QCOM looks like it is closer to emerging from a consolidation.
The stock got a boost this morning from chatter than China is close to issuing 3G licenses. Also, the company said that it is going to move into the laptop connectivity space, which is a large and growing market.
This has the stock rising nicely today, on a big increase in volume. There is some near-term resistance around $41.75, which is the area where the stock will run into its overhead 200-day. But money flow and relative strength are both turning upward, which should help.
Other stocks making notable, high-volume moves include:
  • NVO
  • FTEK
  • UARM
  • AXR
  • OMG
  • IAAC
  • GROW
  • NTSK
  • HSIC
  • GMRK
  • CNC
  • ROK
  • CHAP



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