Nov. 14 at 4:11 AM
$QRVO is currently trading at
$86.2, below its 30-day (MA30) and 50-day (MA50) moving averages of
$90.57 and
$90.67, respectively, indicating a bearish trend. The RSI at 41.91 suggests that the stock is nearing oversold conditions but is not yet in that territory, signaling potential for a reversal. The recent trading range shows a 60-day high of
$106.3 and a low of
$83.12, providing a clear support level at
$83.12.
Market context indicates weakness, as the price is below key moving averages. A suggested entry point could be around
$85.50, with a stop loss set at
$83 to limit potential losses. For targets, consider a first target at
$90, aligning with the MA30, and a second target at
$92, which is a psychological resistance level.
This plan capitalizes on a potential short-term reversal while managing risk effectively.
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