QRVO is coming up on its 6th test of the 185 resistance level. It looks like it will at the very least test this level again and slightly breakout to the 190 level with a full breakout going to 195. Each test of resistance knocks out supply at that level making the breakout more likely. A break beneath the moving averages would void the trade and create an exit
Pattern recognized: Regular flat Elliot Correction Wave.
Thesis: Bullish sentiment long term, bearish sentiment short term.
Conclusion: Middle fractal suggested we would inch higher now I expect a retest of 158 which is the (A) wave. Once achieved I will look for calls.
My strategy: MEWT (MODIFIED ELLIOT WAVE THEORY).
***This does not constitute...
Recently found support and bounced from the 65EMA , last Friday closed above all key moving averages with a strong volume and price action. If it crosses resistance at $180.74 ( entry point) then it will move up with the possibility of reaching the $190 level, perfect for a swing trade here. RSI and MACD ( starting a cross over ) both are pointing to the upside .
QRVO is showing a rounding formation and is also within a flagging pattern. It was filled out the with of the rounding pattern and rebased on the moving averages which makes for an optimal risk/reward scenario if it can trend up to the 185 area.
The PEAD projected a bullish outlook for $QRVO after a negative over reaction following its earnings release placing the stock in Drift C
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QRVO operates in the Semiconductor design, manufacturing, and commercializing product space. They had earnings last week and sold-off from the 190 level down to 165 area. QRVO beat on EPS reporting $3.06 compared to consensus estimates of $2.86, and increased guidance while proving strong gross margin expansion. QRVO is attractively valued relative to peers on...
QRVO is a good company.
If this respects the support, it should reverse nicely.
Bullish Divergence
Once it breaks out from the resistance it will do nicely.
Should be good for a long position,
Cathy Wood bought for ARK
Plz do your own DD, this is not financial advice, only my ideas.
QRVO reported strong numbers on earnings beating estimates. It is down on flat guidance for next quarter. Looking for a bounce off the 100 day EMA (yellow EMA).
$QRVO Qorvo Breaking out - Look for a close over $170 today for confirmation.
Near term target: $190-$200 range
ER coming early February
Note: This is NOT investment advice.
QRVO has recently pulled back to prior breakout levels, which now acts as support and the new retest level. It has retested the 152 level for the first time, and remounted over it. This shows future strength in the upcoming price action. It is still underneath the 13 ema, which will act as minor resistance, but i see this trending back upward to the previous...
Hey traders, QORVO is in a bearish fake dynamic with an aborted attempt by buyers and a large sell volume traded. Looking at the TIMEFRAME M1 we observed a shape of hammer bear candle it goes to test the balance zone again. There is a chance to breakout the area to go on those first highs before the panic. What if the buyers are really back to breakout the...
Investors were happy to see that Qorvo's non-GAAP (adjusted) diluted earnings per share of $2.43 in the second quarter easily surpassed Wall Street's consensus estimate of $2.14 per share. Qorvo's revenue also beat analysts' estimates, with the company reporting $1.06 billion, compared with Wall Street's expectation of $1.01 billion.
1% CAPITAL
Potential breakout in QRVO today on the back of strong earnings and
with the help of QCOM attracting extra spotlight on the 5G sector.
Targets
$140 Previous high
$145 - $147 Fibonacci expansion level & Rising channel trendline
Has passed long entry and earnings are tomorrow/They rarely miss
Election day so who knows what tomorrow will bring
Risky I suppose
Handle Low (HL) or MC (Mid cup) both have support. I also see support at 120.7ish at prior gap up
No rising wedges noted
Not a recommendation
QRVO has tested the 135 level six times, breaking above that level today. Each test of resistance takes out some of the supply, increasing demand. Six is usually the special number of tests before a breakout occurs. I suspect this to run up to 144.
