The strong technical position of Skyworks stock (SWKS) placed it on our radar recently.
But the stock turned outright bullish as it broke out above falling resistance this week.
SWKS breakout comes upon completion of a consolidation phase. The stock now looks poised to resume its up-trend. I have an initial Money Flow Unit price target at $210. In my opinion, this is a high conviction trade and works as a stand-alone long or paired against a weaker performing tech stock like Sunrun (RUN).
As always, we will set a stop on any long trades and take profits on the way up. Have a great weekend.
The author or his firm may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.