QRVO - Uptrend within uptrend, and it looks good
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.
评论:
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.