Earnings Play: Skyworks Solutions
Jason Lubin May 1, 2020 3:36 PM
How to play Skyworks Solutions earnings release
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
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.