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After Yesterday's Decline of 2.03%, Qorvo Inc Offers Investors Better Value

By Shiri Gupta

Qorvo Inc (NASDAQ:QRVO) traded in a range yesterday that spanned from a low of $83.12 to a high of $84.69. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $84.50 on volume of 459,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Qorvo Inc share prices have moved between a 52-week high of $86.84 and a 52-week low of $48.28 and are now trading 73% above that low price at $83.53 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of Qorvo Inc on May 4th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $77.69. Since that recommendation, shares of Qorvo Inc have risen 10.1%. We continue to monitor QRVO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders qorvo inc

Ticker(s): QRVO