The volume profile
is very ugly, massive sell candles with over 100% extra volume
each day for the last week,but can we it as capitulation and a sign to step back in to the long side. Given the exposure that NASDAQ:QRVO
has to China it is a risky move. We see the $54 area been tested once again, on confirmation of it holding then it is a good time to get a reversal trade. The RSI
is very low at 22 but it can go much lower as the NASDAQ:SOX
could possible drop
below the 200ma, bringing more selling.