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3 Big Stocks on Traders' Radars


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Nearest Resistance: $74

Nearest Support: $72

Catalyst: CEO Shakeup

>>Sell These 5 Toxic Stocks to Avoid a Christmas Crash

Mobile chipmaker Qualcomm ( QCOM) is getting high-volume attention today following news that COO Steve Mollenkopf was taking the CEO's desk after being courted for the chief executive role over at Microsoft ( MSFT). Keeping Mollenkopf was important enough to QCOM that the firm is ousting current CEO Paul Jacobs on March 4 of next year to make room for Mollenkopf. That's not to say that Jacobs is against the move -- he had a big role in the decision. Jacobs will remain executive chairman of the board.

From a technical standpoint, Qualcomm is currently consolidating in a rectangle pattern with resistance at $74. Look for a breakout above that medium-term price ceiling as a buy signal in this mobile semiconductor giant.

To see these stocks in action, check out the at Most-Active Stocks portfolio on Stockpickr.

-- Written by Jonas Elmerraji in Baltimore.


Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Jonas Elmerraji, CMT, is a senior market analyst at Agora Financial in Baltimore and a contributor to
TheStreet . Before that, he managed a portfolio of stocks for an investment advisory returned 15% in 2008. He has been featured in Forbes , Investor's Business Daily , and on Jonas holds a degree in financial economics from UMBC and the Chartered Market Technician designation.

Follow Jonas on Twitter @JonasElmerraji
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ADBE $82.26 0.00%
CSCO $27.91 0.00%
QCOM $57.66 0.00%
AAPL $109.50 0.00%
FB $92.47 0.00%


Chart of I:DJI
DOW 17,050.75 +138.46 0.82%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,810.7880 +19.6360 0.41%

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