QRVO, may do a NVDA surge type move in the coming months!...QRVO is registering massive net buy volume, as numbers has surged 3-folds from 1.22M to 3.46M -- conveying that the recent earnings call is attracting position takers in anticipation of the company's turnaround in terms earnings and growth. Monthly data is showing some shifting trend. Pricewise, the stock formed higher lows cementing its intention to reverse to the upside.
The stock is currently sitting below 78.6 LEVEL, this is already a bargain / discount level. Best to seed on this area.
A bubble up volume (bottom indicator) has reappeared after 4 months of waiting -- bounce is in line with the solid support levels at 100'ish range.
Expect some significant bounce from the current range. A $200 price retest valuation in the future is not too far-fetched.
Another key note: MONTHLY DESCENDING TRENDLINE has been broken. Huge hint.
Spotted at 100.0
Safeguard capital always.
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FUNDAMENTAL / FINANCIAL NEWS REF: Source - MarketWatch.
Share of Qorvo Inc. QRVO, +0.11% rallied after hours on Wednesday after the wireless-technology provider’s first-quarter sales forecast and fourth-quarter results topped expectations, following efforts to lean down its stockpiles of components for Android smartphones amid “weakness in end markets.” The company — which makes cellular technology and Wi-Fi for smartphones and other digital devices, along with radio-frequency and power-management products for a variety of industries — said it expected first-quarter sales of $620 million to $660 million, with adjusted earnings per share of 15 cents, compared with FactSet estimates for $626 million and earnings per share of 18 cents. “We anticipate continued progress reducing Android channel inventory in the coming quarters, with a return to historical norms by calendar year-end,” Chief Financial Officer Grant Brown said in a statement. Shares raced 8.7% higher after hours. For its fiscal fourth quarter, Qorvo reported a net loss of $138.4 million, or $1.39 a share, contrasting with a profit of $212.3 million, or $1.95 a share, in the same quarter last year. Revenue fell to $632.7 million, compared with $1.17 billion in the prior-year quarter. The company reported adjusted earnings per share of 26 cents. Analysts polled by FactSet forecast adjusted earnings per share of 12 cents on sales of $621 million.
