• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Skyworks Solutions (NASDAQ:SWKS)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Skyworks Solutions (NASDAQ:SWKS) based on the price action in the company's shares. Today's price range of $100.35 and $101.57 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Skyworks Solutions may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Skyworks Solutions (NASDAQ:SWKS) defies analysts with a current price ($101.06) 9.1% above its average consensus price target of $91.90. The stock should find initial support at its 200-day moving average (MA) of $77.63 and further support at its 50-day MA of $72.99.

Skyworks Solutions, Inc., a wireless semiconductor company, designs and manufactures radio frequency and complete semiconductor system solutions for mobile communications applications. The Company provides front-end modules, radio frequency subsystems, and system solutions to wireless handset and infrastructure customers worldwide.

Skyworks Solutions share prices have moved between a 52-week high of $112.88 and a 52-week low of $54.50 and are now trading 85% above that low price at $101.06 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has advanced 0.3%.

SmarTrend recommended that subscribers consider buying shares of Skyworks Solutions on December 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $78.36. Since that recommendation, shares of Skyworks Solutions have risen 29.7%. We continue to monitor SWKS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle skyworks solutions

Ticker(s): SWKS