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Trade idea: Qualcomm is a good call
Serge Berger, also known as the 'Steady Trader’, is looking to focus today’s trade on mobile chipmaker Qualcomm. He says we have seen a broader weakness in US equities but that there is still plenty of stocks, such as Qualcomm, which are forming patterns for a break-out.
Qualcomm announced this month that it would sell its unit Omnitracs Inc to private equity firm Vista Equity Partners for about USD 800 million in cash. The deal includes Omnitracs' operations in the US, Canada and Latin America.
Omnitracs offers software applications, computing platforms,
and services for private and for-hire fleets. The deal is expected to be
close during the final quarter of this year.
Serge is looking to buy at $67.25, to place a stop at $66.25 and his target is $70.
00:48 minutes
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