The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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Qorvo (QRVO) Technical Analysis

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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtPrice is near the Fibonacci 23.6% retracement levelPrice is near the Fibonacci 23.6% retracement level
Daily :Daily  MACD line has moved below its signal lineWilliams' Percentage Range is oversoldThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Qorvo (QRVO). During the week, the QRVO dropped -4.22 points, or -3.64%, and closed at 111.85 on Friday, March 15, 2024. It was the worst weekly loss since January 5, 2024. Weekly volume was 14% above 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. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance 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. Price is near the Fibonacci 23.6% retracement level.

Weekly Technical Indicators: [See QRVO weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. 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 111.58 on March 15, 2024. QRVO lost 10.07 points, or 8.28%, in 11 days. Price is near the trend low.

Daily Technical Indicators: [See QRVO daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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) 47.81
Williams' Percentage Range (W%R) 86.10
Oversold
Lane's Stochastic (%D-Slow) 40.00
Greed/Fear Indicator (GFI) 33.89
Moving Average Converg./Diverg. (MACD) 2.13
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.16
Williams' Percentage Range (W%R) 24.10
Lane's Stochastic (%D-Slow) 84.09
Overbought
Greed/Fear Indicator (GFI) 70.00
Moving Average Converg./Diverg. (MACD) 2.96
Trading Signals
Description Value Chart
Upper Bollinger Band 120.13
Parabolic System 119.37
Weekly Stochastic Crossing 117.67
20 Day Moving Average 114.97
Daily Stochastic Crossing 114.72
Price 111.85
50 Day Moving Average 109.69
Lower Bollinger Band 108.79
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry Semiconductors 59
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 121.65
High Date 03/04/2024
Low 111.58
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 98.34
Low Date 01/31/2024
High 121.65
High Date 03/04/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
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.