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News Breaks
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November 5, 2009
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| 13:21 EDT |  | SWKS |
| theflyonthewall.com: | Skyworks: Earnings release technical preview, extreme gap risk | | BULLISH CASE: On better than expected news/outlook the stock could trade to the upper limit of the very short-term bullish price channel at $11.10. On a bullish breakout above the price channel the following resistance levels would become upside objectives: $11.29, $11.66, $11.88, $12.13, $12.42, $12.68, $13.06, $13.34. BEARISH CASE: On worse than expected news/outlook the stock could trade to the lower limit of the price channel at $10.23. On a bearish breakdown below the price channel the following support levels would become downside objectives: $9.85, $9.69, $9.51, $9.36, $9.22, $9.07, $8.93, $8.76, $8.63, $8.50. NOTE: Small short-base in terms of days to cover at 2, but with a very large 9.3% of the float short. Traders are positioned more for negative news. Reactions on a surprise, especially a positive one given the float skew, have a high probability of being extreme in duration and price. Extreme gap risk, one of the highest readings in the database. :theflyonthewall.com |
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