QRVO closes within previous day's range after lackluster session
Qorvo (QRVO) Technical Analysis Report for Sep 14, 2018
Moving higher for the 3rd day in a row, QRVO ended the week 1.05% higher at 75.74 after gaining $0.44 (0.58%) today. Today's closing price of 75.74 marks the highest close since September 5th. Trading $0.65 higher after the open, Qorvo was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was $1.11 (1.47%), that's below last trading month's daily average range of $1.81. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average.
While still in a long-term uptrend, the short and medium-term trends both turned bearish already.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
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