Today, shares of Skyworks Solutions (NASDAQ:SWKS) have fallen below their 10-day MA of $21.58 on a volume of 873K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
There is potential upside of 41.1% for shares of Skyworks Solutions based on a current price of $21.35 and an average consensus analyst price target of $30.12. The stock should run into initial resistance at its 50-day moving average (MA) of $22.13 and subsequent resistance at its 200-day MA of $24.20.
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.
Skyworks Solutions share prices have moved between a 52-week high of $31.44 and a 52-week low of $19.21 and are now trading 11% above that low price at $21.35 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 0.2%.