Radio-frequency chip maker Qorvo Inc. (QRVO) is scheduled to report its latest quarterly figures after the close of trading Wednesday. Let's check out the condition of the charts and indicators.
In this daily bar chart of QRVO, below, we can see that prices have been in a clear downward trend the past 12 months. Prices are down about $100/share and trade below the declining 200-day moving average line. QRVO is trading around the 50-day moving average line more by trading sideways than by rallying. The On-Balance-Volume (OBV) line has drifted lower the past year and shows limited improvement in October. The Moving Average Convergence Divergence (MACD) oscillator is moving above the zero line for an outright Buy signal.
In this weekly Japanese candlestick chart of QRVO, below, we still see a weak picture. Prices are in a longer-term downward path and trade below the bearish 40-week moving average line. The weekly OBV line has declined the past two years. The MACD oscillator is below the zero-line and a long way from a buy signal.
In this daily Point and Figure chart of QRVO, below, we can see a potential upside price target in the $100 area.
In this weekly Point and Figure chart of QRVO, below, we can see a price target in the $112 area.
Bottom line strategy: I have no special knowledge of what QRVO will be telling shareholders this Wednesday evening but the charts could respond on the upside.
