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SmarTrend Watching for Potential Pullback in Shares of Qorvo Inc After 3.71% Gain

By David Diaz

Qorvo Inc (NASDAQ:QRVO) traded in a range yesterday that spanned from a low of $80.50 to a high of $83.60. Yesterday, the shares gained 3.7%, which took the trading range above the 3-day high of $81.50 on volume of 1.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Qorvo Inc has traded in a range of $48.28 to $86.84 and is now at $83.39, 73% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.9%.

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 3.5%. 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