NEW YORK (TheStreet) -- Qualcomm (QCOM) - Get Report stock is down by 0.56% to $51.23 in early afternoon trading on Thursday, after gaining more than 2% this week.

Shares of the company were up this week after LG Electronics (LGEAF) and Samsung Electronics (SSNLF) announced that their latest smartphones will use Qualcomm's Snapdragon 820 processor, Barron's reported.

San Diego, CA-based Qualcomm manufacturers 3G, 4G and next-generation wireless technologies for the communications and networking industries.

(Qualcomm is held in the Dividend Stock Advisor portfolio. See all of its holdinghere.)

TheStreet Recommends

TheStreet's Chris Versace and Bob Lang have identified Qualcomm as the "Chart of the Day." Here's what they had to say about the company:

After breaking out of the long downtrend channel last week Qualcomm has been surging on very strong turnover. The momentum has shifted to bullish, and with good relative strength (see the top pane in the chart, below) this stock is poised for higher levels.

The gap at 59 looms large, but with a Moving Average Convergence Divergence buy signal, this could be ready to make an even bolder move higher. Check out the volume, here, of late (circled), it is very impressive.

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Chris Versace and Bob Lang's "Chart of the Day: Qualcomm" was originally published on 2/25/16 on Trifecta Stocks.

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