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Downtrend Broken Resist.Archive
- 9/22/2023 -
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Qorvo (QRVO) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Qorvo (QRVO). During the week, the QRVO dropped -1.80 points, or -1.88%, and closed at 94.13 on Friday, September 22, 2023. Weekly volume was -20% below average.
QRVO is a member of Information Technology Sector. Information Technology is the 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 downtrend had started on April 29, 2021 at 201.68 and reached 75.38 on October 13, 2022. QRVO lost 126.30 points, or 62.62%, in 76 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 97.24 and resistance is at 82.94. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.
 Medium-term trend: [See QRVO medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 75.38 and reached 114.59 on February 1, 2023. QRVO gained -39.21 points, or -52.02%, in 15 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (97.24) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. QRVO may retest the broken support line. It is considered to be a resistance line now. 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 medium-term trend.
 Weekly Technical Indicators: [See QRVO weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since September 8, 2023. The distance between MACD and the signal line is low, but getting bigger. 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 September 1, 2023 at 108.50 and reached 93.72 on September 13, 2023. QRVO lost 14.78 points, or 13.62%, in 12 days. Price is near the trend low.
 Daily Technical Indicators: [See QRVO daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Relative Strength Index, 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, Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is below its signal line since September 7, 2023. This is an indication that the short-term trend is down.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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