SWKS closes lower for the 3rd day in a row
Skyworks Solutions (SWKS) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
Moving lower for the 3rd day in a row, SWKS ended the week -2.64% lower at 93.09 after losing $1.24 (-1.31%) today. Today's closing price of 93.09 marks the lowest close since May 3rd. Closing below Thursday's low at 94.16, the share confirms its breakout through the prior session's low having traded $1.92 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (SWKS as at Aug 10, 2018):
Friday's trading range was $1.50 (1.6%), that's slightly below last trading month's daily average range of $2.15. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.
Prices are trading close to the key resistance level at 93.81.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.