Qualcomm (NasdaqNM: QCOM) hit a new 52-Week high of $56.00 so far today. Currently the stock is up $0.32 (0.58%) to $55.70 on 18,986,288 shares traded. Today's high is up $20.53 from a 52-Week Low of $35.17. Qualcomm stock has been showing support around $54.13 and resistance in the $56.51 range. Technical indicators for the stock are neutral and S&P gives QCOM a neutral 3 STARS (out of 5) hold ranking. Shares of Qualcomm have been climbing today after an analyst said he expects healthy product sales together with robust average selling prices for the company's 3G CDMA devices. If you are looking for a hedged play on QCOM the stock seems like it could be a candidate for a September out-of-the-money bull-put credit spread below the 45 range.

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