The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

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- 6/7/2024 -
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Qorvo (QRVO) Technical Analysis

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Summary:
Weekly :Broken trend support lineWilliams' Percentage Range and Lane's Stochastic are oversold
Daily :The price is close to the moving average in the center of the Bollinger BandsThe Bollinger Bands are historically close together
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It was a second consecutive positive week for the Qorvo (QRVO). During the week, the QRVO gained 1.10 points, or 1.12%, and closed at 99.49 on Friday, June 7, 2024. Weekly volume was -15% below average.

Long-term trend: [See QRVO long-term trend chart]
A long-term uptrend had started on November 2, 2023 at 80.62 and reached 121.65 on March 4, 2024. QRVO gained -41.03 points, or -50.89%, in 17 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (124.62) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.

Medium-term trend: [See QRVO medium-term trend chart]
A medium-term downtrend had started on March 4, 2024 at 121.65 and reached 94.34 on May 2, 2024. QRVO lost 27.31 points, or 22.45%, in 8 weeks. The price is now at the 18.86% retracement level.

Weekly Technical Indicators: [See QRVO weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is below its signal line since April 12, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See QRVO short-term trend chart]
A short-term uptrend had started on May 31, 2024 at 95.17 and reached 100.56 on June 6, 2024. QRVO gained -5.39 points, or -5.66%, in 6 days. The price is now at the 19.85% retracement level.

Daily Technical Indicators: [See QRVO daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since May 17, 2024. This is an indication that the short-term trend is up.

The price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (4.06%) is close to one year low (4.09%). It is 70.13% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.73
Williams' Percentage Range (W%R) 22.30
Lane's Stochastic (%D-Slow) 74.13
Greed/Fear Indicator (GFI) 68.51
Moving Average Converg./Diverg. (MACD) -2.21
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.56
Williams' Percentage Range (W%R) 81.30
Oversold
Lane's Stochastic (%D-Slow) 14.71
Oversold
Greed/Fear Indicator (GFI) 25.05
Moving Average Converg./Diverg. (MACD) 1.29
Trading Signals
Description Value Chart
50 Day Moving Average 105.08
Parabolic System 103.47
Upper Bollinger Band 101.61
Price 99.49
Daily Stochastic Crossing 99.41
20 Day Moving Average 98.45
Weekly Stochastic Crossing 98.40
Lower Bollinger Band 97.56
Sector and Industry
Description Name Rank
Sector Information Technology 6
Industry Semiconductors 84
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 95.17
Low Date 05/31/2024
High 100.56
High Date 06/06/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 121.65
High Date 03/04/2024
Low 94.34
Low Date 05/02/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 131.38
Support 124.62
Low 80.62
Low Date 11/02/2023
High 121.65
High Date 03/04/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 75.38
Low Date 10/13/2022
High 121.65
High Date 03/04/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 201.68
High Date 04/29/2021
Low 75.38
Low Date 10/13/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.