Skyworks Solutions continues its bullish trend in order to test new highest level.

The semiconductor company shows solid fundamentals. It has recently reported its quarter results, reaching new records and beating Wall Street forecasts. Revenues for this quarter are up by 22%. Indeed, its share price have more than doubled in the last 12 months.

Technically, the security is in an uptrend on all time scales, supported by moving averages and following an upward trend line. The bullish trend will not be stopped until prices are above the USD 54 short term support. This trend should allow the stock to reach its USD 74.73 long term resistance after the break-out of the USD 62.15 resistance.

Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position above the USD 62.15 resitance in order to benefit from the bullish trend. The target price will be the USD 74.75 resistance. However, a stop loss must be placed rapidly under the entry point.