Earnings 1-28
Divergence with RSI noted. It was a bearish divergence as price sloped up and RSI sloped down. Divergences do not always mean anything, but SWKS proceeded to pull back. Opening higher in am but chart looks as if it may have a little bit more pulling back to do.
There is also a previous ABC bullish pattern..
Doji on weekly and a green candle with a top wick but no bottom wick..as a rule a candle eventually forms a wick on top and bottom. Even a shooting star eventually forms a bottom wick after a pull back has occurred. The monthly candle is not a hammer, I do not think, because it is not near a low and SWKS is by no means at the bottom..SWKS made it's recent high via a shooting star candle and did not hold on for long.
I am sure lots sell this close to earnings perhaps and volatility often increases close to earnings. A company can beat (SWKS almost always does) and still go down...so a lot of folks do not want to be in a stock close to earnings.
Was in a rising wedge but has broken bottom trendline (148ish) and appears to have recovered..
I think this is a good company and they have little or no debt to speak of as far as I know. One of my fave stocks, but plan to see what unfolds this week..
Not a recommendation..
Mr Market plans and executes well in advance and does not behave in the same exact way twice. He (she) will try to maximize his profit at your expense. We can not really always know what is up, but he does leave subtle clues (o:
Divergence with RSI noted. It was a bearish divergence as price sloped up and RSI sloped down. Divergences do not always mean anything, but SWKS proceeded to pull back. Opening higher in am but chart looks as if it may have a little bit more pulling back to do.
There is also a previous ABC bullish pattern..
Doji on weekly and a green candle with a top wick but no bottom wick..as a rule a candle eventually forms a wick on top and bottom. Even a shooting star eventually forms a bottom wick after a pull back has occurred. The monthly candle is not a hammer, I do not think, because it is not near a low and SWKS is by no means at the bottom..SWKS made it's recent high via a shooting star candle and did not hold on for long.
I am sure lots sell this close to earnings perhaps and volatility often increases close to earnings. A company can beat (SWKS almost always does) and still go down...so a lot of folks do not want to be in a stock close to earnings.
Was in a rising wedge but has broken bottom trendline (148ish) and appears to have recovered..
I think this is a good company and they have little or no debt to speak of as far as I know. One of my fave stocks, but plan to see what unfolds this week..
Not a recommendation..
Mr Market plans and executes well in advance and does not behave in the same exact way twice. He (she) will try to maximize his profit at your expense. We can not really always know what is up, but he does leave subtle clues (o: