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Industry Stocks Technical Analysis - SWKS

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- 3/15/2024 -
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Skyworks Solutions Inc. (SWKS) Technical Analysis

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Summary:
Weekly :Overbought sectorTrend resistance at 105.10
Daily :A Parabolic SAR indicator is above and near the priceBearish On Neck Candlestick20 Day Moving Average has crossed above the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Skyworks Solutions Inc. (SWKS). During the week, the SWKS dropped -2.25 points, or -2.12%, and closed at 104.07 on Friday, March 15, 2024. Weekly volume was 117% above average.

SWKS is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See SWKS long-term trend chart]
A long-term downtrend had started on February 7, 2023 at 123.69 and reached 85.06 on November 1, 2023. SWKS lost 38.63 points, or 31.23%, in 38 weeks. The chart has formed a Falling Channel chart pattern. The price is near the trend resistance line (105.10). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See SWKS medium-term trend chart]
A medium-term uptrend had started on November 1, 2023 at 85.06 and reached 115.12 on December 26, 2023. SWKS gained -30.06 points, or -35.34%, in 7 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 107.37 and resistance is at 102.04. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a medium-term trend.

Weekly Technical Indicators: [See SWKS weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See SWKS short-term trend chart]
A short-term uptrend had started on January 17, 2024 at 98.75 and reached 110.60 on January 24, 2024. SWKS gained -11.85 points, or -12%, in 7 days. The chart has formed a Symmetric Triangle chart pattern.

Daily Technical Indicators: [See SWKS daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since March 6, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

A Parabolic SAR (stop and reversal) indicator (103.39) comes close to the price (104.07). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Candlestick pattern: [See SWKS candlestick chart pattern]
On Friday the chart has formed a Bearish On Neck Candlestick pattern. This is the weakest bearish continuation signal; it appears in a downtrend. Use the Technical Stock Screener to see the list of stocks that had a Bearish On Neck Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.55
Williams' Percentage Range (W%R) 60.30
Lane's Stochastic (%D-Slow) 74.27
Greed/Fear Indicator (GFI) 54.83
Moving Average Converg./Diverg. (MACD) 0.36
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.38
Williams' Percentage Range (W%R) 38.70
Lane's Stochastic (%D-Slow) 43.84
Greed/Fear Indicator (GFI) 50.47
Moving Average Converg./Diverg. (MACD) 0.53
Trading Signals
Description Value Chart
Upper Bollinger Band 109.44
Weekly Trendline Support 107.37
Daily Stochastic Crossing 107.20
Monthly Trendline Resistance 105.10
20 Day Moving Average 104.92
50 Day Moving Average 104.65
Weekly Stochastic Crossing 104.45
Price 104.07
Parabolic System 103.39
Weekly Trendline Resistance 102.04
Lower Bollinger Band 101.22
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry Semiconductors 59
Daily Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Low 98.75
Low Date 01/17/2024
High 110.60
High Date 01/24/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Valid
Resistance 102.04
Support 107.37
Low 85.06
Low Date 11/01/2023
High 115.12
High Date 12/26/2023
Description Value
Direction Down
Chart Pattern Falling Channel
Status Test Resistance
Resistance 105.10
Support 78.55
High 123.69
High Date 02/07/2023
Low 85.06
Low Date 11/01/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 76.16
Low Date 10/13/2022
High 123.69
High Date 02/07/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 204.00
High Date 04/29/2021
Low 76.16
Low Date 10/13/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.