- QRVO rose above its 15-month downtrend line in November. QRVO had fallen over 60% from its August 2021 highs to its October 2022 lows.. The zoom chart reveals that QRVO has established a pattern of higher lows and higher highs = uptrend. The recent decline puts QRVO near uptrend support. The lows in October confirm long-term support (weekly chart).
RRG analysis shows that QRVO has moved back into the Leading quadrant and that SEMIs are firmly in the Leading quadrant. QRVO was a Top 20 stock in this week’s TPA-RRG report.
- WRB fell below its 4-year uptrend line in March. WRB’s uptrend had been very consistent until that break. The zoom chart shows that WRB has established a pattern of lower highs and lower lows = downtrend. The recent 7-day 5% rally puts WRB at downtrend resistance. The weekly chart reveals that, after this breakdown, WRB has a huge downside risk; down 50%.
RRG analysis shows that WRB has moved from the Weakening quadrant into the Lagging quadrant. The sector RRG shows that Financials are firmly ensconced in the Lagging quadrant. Financials were the lowest ranked sector in this week’s TPA-RRG report (score=-3.43).
Relative Rotation Graphs (RRG) – explanation video
Jeff Marcus founded Turning Point Analytics (TPA) in 2009 after 25 years on trading desks and 13 years as a head trader to provide strategic and technical research to institutional clients. Turning Point Analytics (TPA) provides a unique strategy that works as an overlay to clients’ good fundamental analysis. After 10 years of serving only large institutions, TPA now offers its research services to mid and small managers, RIA’s, and wealthy sophisticated individuals looking for a way to increase their returns and outperform their peers.
Subscribe 2 Week Trial
Customer Relationship Summary (Form CRS)