Qorvo Inc. (QRVO) is set to report their latest earnings and revenue numbers after the close of trading Wednesday. While the stock has suffered a long decline, the charts have been improving. Let's check out the latest.
In the daily bar chart of QRVO, below, we can see that the shares were cut in half over the past 12 months. Prices have shown some stability since the middle of June and some bullish divergences have surfaced.
QRVO made new lows for the move down in June but the daily On-Balance-Volume (OBV) line did not make a new low to confirm the price weakness. The Moving Average Convergence Divergence (MACD) oscillator also made a bullish divergence with a higher low in June than in May even though prices were weaker.