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RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of QRVO
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Qorvo stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on Jun 20, 2024)

Sell candidate since Jun 20, 2024 PDF

The Qorvo stock price fell by -1.57% on the last day (Thursday, 20th Jun 2024) from $114.71 to $112.91. During the last trading day the stock fluctuated 2.54% from a day low at $112.41 to a day high of $115.26. The price has risen in 7 of the last 10 days and is up by 13.32% over the past 2 weeks. Volume has increased on the last day by 495 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $177.41 million.

The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $114.49 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -10.83% during the next 3 months and, with a 90% probability hold a price between $78.72 and $102.09 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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QRVO Signals & Forecast

The Qorvo stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $111.48 and $101.18. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -1.57%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Qorvo stock

Qorvo finds support from accumulated volume at $111.89 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.85 between high and low, or 2.54%. For the last week, the stock has had daily average volatility of 3.20%.

The Qorvo stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (QRVO) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Qorvo to open at $113.53, and during the day (based on 14 day Average True Range), to move between $109.92 and $115.90, which gives a possible trading interval of +/-$2.99 (+/-2.65%) up or down from last closing price. If Qorvo takes out the full calculated possible swing range there will be an estimated 5.29% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $113.36 (0.40%) than the support at $111.89 (0.90%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Qorvo stock A Buy?

Qorvo holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.

Current score: -1.163 Sell Candidate Downgraded

Predicted Opening Price for Qorvo of Friday, June 21, 2024

Fair opening price June 21, 2024 Current price
$113.53 ( 0.546%) $112.91

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for QRVO

Fibonacci Support & Resistance Levels

Level Price
R3 116.38 3.07%
R2 115.29 2.11%
R1 114.62 1.51%
Price 112.91
S1 112.44 -0.418%
S2 111.77 -1.01%
S3 110.68 -1.98%

Accumulated Volume Support & Resistance Levels

Level Price
R3 116.84 3.48%
R2 114.70 1.59%
R1 113.36 0.399%
Price 112.91
S1 111.89 -0.90%
S2 108.72 -3.71%
S3 95.67 -15.27%

FAQ

What is the symbol for Qorvo Stock and on which exchange is it traded?
The symbol for Qorvo is QRVO and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Qorvo Stock?
Qorvo holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.

How to buy Qorvo Stock?
Qorvo Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Qorvo Stock.

What's the current price of Qorvo Stock?
As of the end of day on the Jun 20, 2024, the price of an Qorvo (QRVO) share was $112.91.

What is the 52-week high and low for Qorvo Stock?
The 52-week high for Qorvo Stock is $121.65 and the 52-week low is $80.62.

What is the market capitalization of Qorvo Stock?
As of the Jun 20, 2024, the market capitalization of Qorvo is 10.797B.

When is the next earnings date for Qorvo?
The upcoming earnings date for Qorvo is Aug 07, 2024.
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About Qorvo

Qorvo Qorvo, Inc. develops and commercializes technologies and products for wireless, wired, and power markets worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. It offers mobile devices, such as smartphones, wearables, laptops, tablets and other devices; radio frequency power management integrated circuits, ultra-wideband (UWB) system-on-a-chip (SoC) and system-in-package (SiP) solutions, ME... QRVO Profile

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