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Actionable news in SWKS: Skyworks Solutions, Inc.,

Growth Seeker's Skyworks Solutions (SWKS) Shouldn't Fall Below This Support Level

NEW YORK (TheStreet) -- Growth Seeker holding Skyworks Solutions (SWKS - Get Report) , engaged in the production of analog semiconductors, peaked around $110 in June and has worked lower into the $80-$70 area in recent weeks.

While we are seeing a bullish divergence between the price action and the momentum study (M=V-vx) in August and October, we have not seen a reversal in the volume pattern.

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With the downtrend still intact, above, and volume heavier on days when SWKS closes lower, we see no technical reason to probe the long side just yet.

This longer-term weekly chart of SWKS, above, illustrates why SWKS may not bottom at current levels. In this chart, we can see that SWKS broke its 40-week, or 200-day, moving average and rallies to the underside of the moving average have failed, around $90.

On this weekly timeframe, we find no bullish divergences yet. Also...


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