SWKS closes lower for the 3rd day in a row


Skyworks Solutions (SWKS) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
SWKS closes lower for the 3rd day in a row
SWKS breaks below previous session low
SWKS falls to lowest close since May 3rd
SWKS ends the day indecisive
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
Overview

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 chart for SWKS
Volatility

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.

Support/Resistance

Prices are trading close to the key resistance level at 93.81.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Skyworks Solutions
Condition Forecast Direction Win Avg Worst Best Events
3 Consecutive Lower Closes TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Black Candle TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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