Bullish Trendline Could Boost Skyworks Solutions Stock

The stock's recent pullback presents a buying opportunity

Deputy Editor
Apr 4, 2023 at 11:34 AM
facebook X logo linkedin

Skyworks Solutions Inc (NASDAQ:SWKS) is down 1.5% to trade at $115.65 at last check. This pullback placed the equity near a historically bullish trendline, though, which presents traders with an interesting entry point. 

Specfically, SWKS stock just came within one standard deviation of its 40-day moving average. One month after the last four pullbacks to this trendline the stock was higher, and averaged a solid 8% gain, according to Schaeffer's Senior Quantitative Analyst Rocky White.

A similar move from its current perch would put Skyworks stock above $124, and past a short-term ceiling at the $118 level. It would also help the security put a dent in its 14.2% year-over-year deficit, and add to its 26.4% year-to-date lead.

SWKS Chart April 042023

An unwinding of analysts' pessimism could also be a boon for Skyworks Solutions stock. While 11 covering brokerages rate SWKS a "buy" or better, 10 still recommend a "hold" or worse.

Speculating with options could be the right way to go. The security's Schaeffer's Volatility Index (SVI) of 29% ranks in the lowest percentile of annual readings, and implies options traders are pricing in low volatility expectations at the moment.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI