Skyworks Solutions (SWKS) needs some more sideways/base building and accumulation before it will be poised for renewed strength.
In this daily chart of SWKS, above, we can see that prices have pretty much traded sideways this year in a broad $55 to $80 range. Prices have made a higher low in late June and early July, but the rally in through September has not been able to best the March/April highs, so we are still in a sideways range. SWKS has moved above and below the 50-day moving average a number of times since January. SWKS has rallied above the 200-day average this month, but the slope of this longer-term indicator is still pointed down. The On-Balance-Volume (OBV) has moved up from a late June low, but it did not make a new high with prices this month and its basic trend since January has been neutral. While SWKS made higher highs in August and September the momentum study in the bottom panel made lower highs, showing that momentum had weakened and diverged from the price action.
This three-year weekly chart of SWKS, above, shows the rally and the 50% correction into the 2016 lows. Prices have rallied above the 40-week average line, but its slope is still bearish. The weekly OBV line is neutral and the Moving Average Convergence Divergence (MACD) oscillator is giving us a new go long buy signal as it crosses above the zero line. Bottom line: there are bullish and bearish signals on SWKS and that leads to anticipate further sideways price action, at least for now. A close over $80 would tilt the charts to the upside and turn us bullish.