Rectangle
QRVO appears to be bouncing around in a rectangle which is a neutral pattern until a trendline is broken with a trend in that direction.
This could be a bottom for now as a rectangle is a consolidation pattern , so the support at the bottom of the recctqangle is strong as it has been reinforced a few times. This does not mean it can not break to the downside.
To calculate targets for a rectangle, take the width of the rectangle and project it up from the top trendline/resistance/then project it down from the bottom trendline for down targets. These are only guesstimates. But i will give you an idea.
There was an ugly top for QRVO and I possibly see a Rectangle top that has long since broken to the downside.
I do not go short, so I look at things from a long perspective. I like to do a chart to see how low price may go. Keeping in mind it can always go lower.
There are signs of thin trading on the 1 minute time frame. The candles are flat without much of a body.
Short percent is 2.72%.
No recommendation
This could be a bottom for now as a rectangle is a consolidation pattern , so the support at the bottom of the recctqangle is strong as it has been reinforced a few times. This does not mean it can not break to the downside.
To calculate targets for a rectangle, take the width of the rectangle and project it up from the top trendline/resistance/then project it down from the bottom trendline for down targets. These are only guesstimates. But i will give you an idea.
There was an ugly top for QRVO and I possibly see a Rectangle top that has long since broken to the downside.
I do not go short, so I look at things from a long perspective. I like to do a chart to see how low price may go. Keeping in mind it can always go lower.
There are signs of thin trading on the 1 minute time frame. The candles are flat without much of a body.
Short percent is 2.72%.
No recommendation
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