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After Yesterday's Rally of 2.21% Shares Could Potentially Pullback

By James Quinn

Skyworks Solutions (NASDAQ:SWKS) traded in a range yesterday that spanned from a low of $62.01 to a high of $64.36. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $63.58 on volume of 1.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 17% above that low price at $63.89 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 its subscribers protect gains by selling shares of Skyworks Solutions on April 20th, 2016 by issuing a Downtrend alert when the shares were trading at $72.20. Since that call, shares of Skyworks Solutions have fallen 13.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders skyworks solutions

Ticker(s): SWKS