Earnings Play: Skyworks Solutions

How to play Skyworks Solutions earnings release

Uptrend 4

On Monday, after market, Skyworks Solutions (SWKS) is expected to report second quarter EPS of $1.33 compared to $1.47 a year ago on revenue of appx. $761.8M vs. $810.4M last year. The company's current analyst consensus rating is 18 buys, 10 holds and 0 sells, according to Bloomberg. 

From a technical point of view, Skyworks Solutions has recently broken to the upside out of a rising wedge pattern. Price appears to be looking for support on the upper trend line of the rising wedge.  The RSI is holding a rising trend line and is currently above 50. If price can hold above key support at the $95.00 level then we will most likely see a continuation higher to retest $107.00 and possibly $115.00 in extension.        

Source: GAIN Capital, TradingView

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