Qorvo (QRVO - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, QRVO broke through the 20-day moving average, which suggests a short-term bullish trend.
The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
QRVO could be on the verge of another rally after moving 7.2% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.
The bullish case only gets stronger once investors take into account QRVO's positive earnings estimate revisions. There have been 7 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Investors may want to watch QRVO for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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Qorvo (QRVO - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, QRVO broke through the 20-day moving average, which suggests a short-term bullish trend.
The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
QRVO could be on the verge of another rally after moving 7.2% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.
The bullish case only gets stronger once investors take into account QRVO's positive earnings estimate revisions. There have been 7 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Investors may want to watch QRVO for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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