SWKS ends the day indecisive
Skyworks Solutions (SWKS) Technical Analysis Report for Sep 14, 2018
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.
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.
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.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
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