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Rebound Above 50-Day Moving Average Helped Outlook - Wednesday, June 2, 2021
Qorvo Inc (QRVO +$2.33 or +1.27% to $185.31) has recently rebounded just above its 50-day moving average (DMA) line ($184) which helped its outlook to improve. However, its current Relative Strength Rating is 69, below the 80+ minimum for buy candidates.It was highlighted in yellow in the 4/01/21 mid-day report (read here) but stalled after recently wedging up to new highs from a 9-week base. QRVO was last shown in this FSU section on 4/29/21 with an annotated graph under the headline, "Quiet Gain For Best Ever Close". Disciplined investors noted that it did not produce confirming volume-driven gains as a reassurance of fresh institutional buying demand that can lead to a significant new leg higher.
QRVO has a 93 Earnings Per Share Rating. It reported Dec '20 quarterly earnings +66% on +26% sales revenues versus the year ago period. Three of the 4 latest quarterly comparisons were above the +25% minimum guideline (C criteria). Annual earnings growth has been steady.
QRVO has a 93 Earnings Per Share Rating. It reported Dec '20 quarterly earnings +66% on +26% sales revenues versus the year ago period. Three of the 4 latest quarterly comparisons were above the +25% minimum guideline (C criteria). Annual earnings growth has been steady.
The number of top-rated funds owning its shares rose from 1,363 in Mar '20 to 1,633 in Mar '21, a reassuring sign concerning the I criteria. It has 112.6 million shares outstanding (S criteria). Its current Accumulation/Distribution Rating is B-. Its current Up/Down Volume Ratio of 1.0 is an unbiased indication its shares have been neural concerning accumulation/distribution over the past 50 days.
Quiet Gain For Best Ever Close - Thursday, April 29, 2021
Qorvo Inc (QRVO +$2.49 or +1.26% to $199.54) posted a quiet gain today for a best-ever close. Since highlighted in yellow in the 4/01/21 mid-day report (read here) it found support at its 50-day moving average (DMA) line last week and has wedged higher with gains lacking great volume conviction.It was last shown in this FSU section on 4/05/21 with an annotated graph under the headline, "Hit Another New High With Even Less Volume Conviction". Volume was +33% above average on 4/01/21 as QRVO broke out from any orderly 9-week base. Volume should be at least +40% above average to trigger a proper technical buy signal. So, disciplined investors may still be watching for confirming gains as a reassurance of fresh institutional buying demand that can lead to a significant new leg higher.
Keep in mind the company is due to report Mar '21 quarterly results on 5/05/21, and volume and volatility often increase near earnings news. QRVO has a 93 Earnings Per Share Rating. It reported Dec '20 quarterly earnings +66% on +26% sales revenues versus the year ago period. Three of the 4 latest quarterly comparisons were above the +25% minimum guideline (C criteria). Annual earnings growth has been steady.
The number of top-rated funds owning its shares rose from 1,363 in Mar '20 to 1,623 in Mar '20, a reassuring sign concerning the I criteria. It has 113.3 million shares outstanding (S criteria). Its current Accumulation/Distribution Rating is A-. However, its Up/Down Volume Ratio of 0.9 is an unbiased indication its shares have been under slight distributional pressure over the past 50 days.
Hit Another New High With Even Less Volume Conviction -
Qorvo Inc (QRVO +$5.42 or +2.81% to $198.32) posted a 3rd consecutive gain today with lighter volume while hitting another new 52-week high. It was highlighted in yellow in the 4/01/21 mid-day report (read here) after forming a base of sufficient length. QVRO traded above and below its 50-day moving average (DMA) line in recent months.Volume was +33% above average on the prior session as QRVO broke out from any orderly 9-week base. Volume should be at least +40% above average to trigger a proper technical buy signal. So, disciplined investors may watch for confirming gains in the days ahead as a reassurance of fresh institutional buying demand that can lead to a significant new leg higher.
QRVO has a 94 Earnings Per Share Rating. It reported Dec '20 quarterly earnings +66% on +26% sales revenues versus the year ago period. Three of the 4 latest quarterly comparisons were above the +25% minimum guideline (C criteria). Annual earnings growth has been steady.
The number of top-rated funds owning its shares rose from 1,363 in Mar '20 to 1,573 in Dec '20, a reassuring sign concerning the I criteria. It has 113.3 million shares outstanding (S criteria). Its current Accumulation/Distribution Rating is A-. However, its Up/Down Volume Ratio of 0.9 is an unbiased indication its shares have been under slight distributional pressure over the past 50 days.
