SWKS is in breakout mode; a confirming move tomorrow opens buy opportunities on pullbacks.
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First up, Skyworks, guys. We got SWKS in breakout mode. Look at this declining trend line taken all the way back here from July 30th of 2024. And look at this rip today, guys. up 9.79%.
I caution you guys overbought extremely at 80.29 on the daily time frame and we ran into near-term resistance with this pivot. But what do we like about breakouts, guys? We like to see breakouts.
We want to see a follow-up move tomorrow with a daily close above today's candle. And then we want to see that price drop right back down. give us that nice retrace for the uh pending bounce play up to tag this next level of resistance at $90.90.
So, you heard it here, SWKS on breakout watch. See if we can get that confirming move tomorrow. Then that opens up the buying opportunity for any pullbacks back down here to this trend line.
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