Swing Trade Idea (QRVO) – September 14, 2021
Our bullish trade for Tuesday, September 14th is Qorvo Inc (QRVO). QRVO is part of the Technology Sector (XLK). XLK has experienced a 1.6% gain in the last month.
QRVO is on a strong bullish trend and recently pulled back to $180 providing a good risk/reward for a long entry. With a technical score of 5 (out of 10), QRVO is a neutral stock that will likely move higher.
As a close, if QRVO were to trade below $176 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We also would consider cutting losses on this options trade if the value of the vertical spread moves above $10.20.
