Bearish Moving Average Cross by Xilinx (XLNX)
Xilinx (NASDAQ:XLNX) crossed under its 10-day moving average of $53.34 on a volume of 652K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, shares of Xilinx have traded between a low of $38.70 and a high of $54.82 and are now at $53.12, which is 37% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.9%.
SmarTrend recommended that subscribers consider buying shares of Xilinx on May 24th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $46.40. Since that recommendation, shares of Xilinx have risen 15.5%. We continue to monitor XLNX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Xilinx