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Downtrend Broken Resist.Archive
- 4/5/2024 -
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Qorvo (QRVO) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a third consecutive positive week for the Qorvo (QRVO). During the week, the QRVO climbed 0.26 points, or 0.23%, and closed at 115.09 on Friday, April 5, 2024. Weekly volume was -26% below average.
QRVO is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See QRVO long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 75.38 and reached 121.65 on March 4, 2024. QRVO gained -46.27 points, or -61.38%, in 72 weeks. The price is now at the 14.18% retracement level.
 Medium-term trend: [See QRVO medium-term trend chart]
A medium-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 trend support level is at 111.63 and resistance is at 124.99. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See QRVO weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See QRVO short-term trend chart]
A short-term downtrend had started on March 4, 2024 at 121.65 and reached 109.08 on March 19, 2024. QRVO lost 12.57 points, or 10.33%, in 15 days. The price is now at the 47.81% retracement level.
Daily Technical Indicators: [See QRVO daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 12, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
 Candlestick pattern: [See QRVO candlestick chart pattern]
On Friday the chart has formed a Bullish Piercing Line Candlestick pattern. This pattern suggests bulls have begun to take charge of the market, and shorts have been shaken by the sudden lost of bearish momentum. The reliability of the Bullish Piercing Line pattern is moderate. Use the Technical Stock Screener to see the list of stocks that had a Bullish Piercing Line Candlestick pattern during the last week.
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