In the upper chart you can see QRVO's four and a half years uptrend, which was put to the test during the corona panic and held perfectly. Since then, QRVO has managed to create a secondary rising channel, which was tested several times during the recent consolidation (blue arrows in the lower chart). If this smaller channel holds, it will lead price above all-time highs, for an immediate 9% gain ( the width of last month's consolidation, 118-107= 11 bucks), and I suspect that it could rise much higher in time. Breakouts above all-time highs are always bullish,
but when they happen within a well defined and thus sustainable uptrend, they can be fantastic. We'll see how good this will be.
Full disclosure: long QRVO at 0.9% of total assets. Given to the fact that I hold several more semiconductor stocks, I'm happy with this allocation for now.
but when they happen within a well defined and thus sustainable uptrend, they can be fantastic. We'll see how good this will be.
Full disclosure: long QRVO at 0.9% of total assets. Given to the fact that I hold several more semiconductor stocks, I'm happy with this allocation for now.
Note
If QRVO falls out of the short-term channel, this long idea is screwed for the time being... I won't sell any shares, due to it being a small position and due to having raised cash up to 40% of total assets in the last eight weeks, and also having a 6% S&P short etf. I may even increase this and many other long positions if we get a deep enough correction.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.