We are making a trade recommendation here on a semiconductor company that
provides chips to the wireless and broadband markets. This is a communications
play.
Chart of Skyworks Solutions, Inc. (NASDAQ:SWKS)
Business: SKYWORKS SOLUTIONS INC, (SWKS) designs, develops, manufactures
and markets proprietary radio frequency, microwave frequency and millimeter
wave frequency integrated circuits and discrete semiconductors for wireless
voice and data and broadband communications.
We are going to enter a long trade today, but we will delay our entry by between
15 minutes to an hour or so. I will send out an intraday alert to indicate
where you should enter the trade. Hopefully, we can get a brief pull back on
opening weakness in the markets.
Our stop loss will be at $6.70 initially and we will move it up regularly.
Our target is to get an entry below $7.00 and specifically below $6.90 if possible.
We need to exit our SPY position today and will try to get out as close to
$139 as possible. This will result in a loss for this trade, but the market
clearly is continuing in the bullish uptrend started four months ago.
Please feel free to send emails with any questions you may have.
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