8 Stocks Rising on Monster Volume
Skyworks Solutions (SWKS) offers analog and mixed signal semiconductors. Skyworks offers custom linear products supporting automotive, broadband, cellular infrastructure, energy management, industrial, medical, military and cellular handset applications. This stock is trading up 6.5% at $27.18 in recent trading.
Today's Volume: 5.2 millionAverage Volume: 4.6 million Volume % Change: 116% Shares of Skyworks are soaring today after the company reported better-than-expected results for its fiscal second-quarter. Skyworks reported revenue of $364.7 million, an increase of 12% from a year ago, ahead of guidance at $360 million and above Wall Street estimates of $361 million. >>5 Chip Stocks JPMorgan Likes From a technical perspective, SWKS has been gapping higher for the past four trading sessions on above average volume. This stock also moved back above its 50-day moving average of $26.67 today, and briefly broke out above some near-term overhead resistance at $27.47. Traders should now only look for long-biased trades as long as SKWS is trending above its 50-day and above $27.47 with strong upside volume flows. I would consider any upside volume that's near or above 4.6 million shares as strong. Traders should avoid this stock or look for short-biased trades if it closes back below its 50-day moving average with heavy volume. This stock could easily fill all of those recent gaps if we get that high-volume move back below its 50-day.
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