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Possible Bullish Inside Day Candle Pattern Detected for Skyworks Solutio (NASDAQ:SWKS)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Skyworks Solutio (NASDAQ:SWKS) based on the price action in the company's shares. Yesterday's price range of $106.63 and $109.44 is within the prior day'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. Traders and investors interested in shares of Skyworks Solutio may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, Skyworks Solutio share prices have been bracketed by a low of $66.29 and a high of $128.48 and closed yesterday at $103.00, 55% above that low price. The 200-day and 50-day moving averages have moved 0.39% higher and 0.08% lower over the past week, respectively.

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.

There is potential upside of 10.9% for shares of Skyworks Solutio based on a current price of $103.00 and an average consensus analyst price target of $114.24. The stock should find resistance at its 50-day moving average (MA) of $118.44, as well as support at its 200-day MA of $91.73.

SmarTrend is tracking the current trend status for Skyworks Solutio and will alert subscribers who have SWKS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle skyworks solutio

Ticker(s): SWKS