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IBD tags pivot but question about daily volume – QRVO

QuestionsCategory: QuestionsIBD tags pivot but question about daily volume – QRVO
Rick Procasky asked 4 years ago

Hi Pat,  So doing my review tonight I happened to click on IBD’s “Stocks near Pivot” on the opening page of Marketsmith. They have listed 9 stocks tonight. One is QRVO. The numbers seem ok. Group, ACC/Dist, etc. I’m not wanting to buy it, but I am curious about your thinking on the trending daily volume.It seems to be dropping.Does it matter if the Market (and all other conditions are ok), and if the volume comes into the stock on that break out? Is this perhaps a negative? Would it stop you from taking a position in any stock similar to this stock? The RS line shows the consolidation. But from approx. 108pts up, volume seems to be slipping. 
Thank you Pat for your time!

1 Answers
Avatar photoOwen Staff answered 4 years ago

Hi Rick,
Video from Patrick:
https://youtu.be/5JvLUSEJmxY