Skyworks Solutions Stock Forecast
Skyworks Solutions stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Skyworks Solutions stock price gained 0.526% on the last trading day (Tuesday, 2nd Jul 2024), rising from $106.40 to $106.96. During the last trading day the stock fluctuated 2.22% from a day low at $105.36 to a day high of $107.69. The price has been going up and down for this period, and there has been a 0.62% gain for the last 2 weeks. Volume fell on the last day by -305 thousand shares and in total, 2 million shares were bought and sold for approximately $177.66 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $108.46 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Skyworks Solutions stock with a 90% probability to be traded between $90.99 and $109.32 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SWKS Signals & Forecast
The Skyworks Solutions stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $106.29 and $97.92. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, June 25, 2024, and so far it has fallen -0.391%. Further fall is indicated until a new bottom pivot has been found.
A sell signal from a double top formation was found on Tuesday, June 25, 2024 and based on theory for this formation the price should fall by -4.24% to $102.43 within 39 trading days since signal was issued (Tuesday, August 20, 2024).
Support, Risk & Stop-loss for Skyworks Solutions stock
Skyworks Solutions finds support from accumulated volume at $106.33 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $2.33 between high and low, or 2.22%. For the last week, the stock has had daily average volatility of 2.04%.
Our recommended stop-loss: $103.55 (-3.18%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 41 days ago.)
Trading Expectations (SWKS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Skyworks Solutions to open at $106.67, and during the day (based on 14 day Average True Range), to move between $104.32 and $109.60, which gives a possible trading interval of +/-$2.64 (+/-2.47%) up or down from last closing price. If Skyworks Solutions takes out the full calculated possible swing range there will be an estimated 4.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $107.38 (0.39%) than the support at $106.33 (0.59%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Skyworks Solutions stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Skyworks Solutions stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.694 Buy Candidate Upgraded
Predicted Opening Price for Skyworks Solutions of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $106.67 ( 0.273%) | $106.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SWKS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 109.00 | 1.91% |
| R2 | 108.11 | 1.08% |
| R1 | 107.56 | 0.561% |
| Price | 106.96 | |
| S1 | 105.78 | -1.11% |
| S2 | 105.23 | -1.62% |
| S3 | 104.33 | -2.46% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 107.86 | 0.84% |
| R1 | 107.38 | 0.393% |
| Price | 106.96 | |
| S1 | 106.33 | -0.589% |
| S2 | 102.64 | -4.04% |
| S3 | 90.30 | -15.58% |
SWKS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 30, 2024 | May 20, 2024 | Jun 11, 2024 | $0.680 | 0.707% |
| 2 | Jan 30, 2024 | Feb 16, 2024 | Mar 12, 2024 | $0.680 | 0.622% |
| 3 | Nov 02, 2023 | Nov 20, 2023 | Dec 12, 2023 | $0.680 | 0.637% |
| 4 | Aug 07, 2023 | Aug 28, 2023 | Sep 19, 2023 | $0.680 | 0.695% |
| 5 | May 08, 2023 | May 26, 2023 | Jun 20, 2023 | $0.620 | 0.578% |
FAQ
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