SWKS ends the day indecisive

Skyworks Solutions (SWKS) Technical Analysis Report for Sep 14, 2018

Highlights

SWKS unable to break through key resistance level
SWKS closes higher for the 2nd day in a row
SWKS pushes through previous session high
SWKS rises to highest close since September 6th
SWKS ends the day indecisive

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, SWKS ended the week 0.29% higher at 87.73 after gaining $0.52 (0.6%) today. Today's closing price of 87.73 marks the highest close since September 6th. Closing above Thursday's high at 87.60, Skyworks Solutions confirms its breakout through the prior session's high having traded $1.63 above 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 $2.10 (2.4%), that's above last trading month's daily average range of $1.72. Weekly volatility is also higher, being above the markets average with the monthly volatility being above average.

Support/Resistance

Unable to break through the key technical resistance level at 89.10, the share closed below it after spiking as high as 89.23 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

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 bearish.

Market Conditions for Skyworks Solutions

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