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

By Amy Schwartz

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 $121.45 and $122.89 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.

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.

In the past 52 weeks, Skyworks Solutio share prices have been bracketed by a low of $66.29 and a high of $125.75 and closed yesterday at $123.09, 86% above that low price. The 200-day and 50-day moving averages have moved 0.92% higher and 2.11% higher over the past week, respectively.

Based on a current price of $123.09, Skyworks Solutio is currently 7.2% above its average consensus analyst price target of $114.24. The stock should discover initial support at its 50-day moving average (MA) of $108.95 and subsequent support at its 200-day MA of $87.68.

SmarTrend recommended that subscribers consider buying shares of Skyworks Solutio on September 6th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $79.57. Since that recommendation, shares of Skyworks Solutio have risen 51.3%. We continue to monitor SWKS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle skyworks solutio

Ticker(s): SWKS