Not a big surprise here. InterDigital, Inc. (IDCC) had been testing a support line at $31.40 since early February, and the bears were slowly but surely overwhelming the bulls. The last line of defense was $31.40, which the bulls defended valiantly. With Thursday’s marketwide decimation though, the stock just didn’t have a chance. IDCC broke under support, and fell all the way back to my next potential support area… the 50 day moving average line at $28.75. InterDigital opened above that line today, dipped under it for a brief time, and is now back above it again.

All in all, it’s a fairly routine pullback for IDCC. Speculators may want to slide into a long position here; safety-conscious traders may wish for any rebound to prove itself. Both groups still need to be alert for a close under the 50 day line though, which could be a bearish omen.

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