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Possible Bearish Inside Day Candle Pattern Detected for Xilinx Inc (NASDAQ:XLNX)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Xilinx Inc (NASDAQ:XLNX) based on the price action in the company's shares. Today's price range of $112.95 and $113.33 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Xilinx Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Xilinx Inc (NASDAQ:XLNX) is currently priced 34.2% above its average consensus analyst price target of $74.50. The stock should find resistance at its 50-day moving average (MA) of $115.13, as well as support at its 200-day MA of $101.30.

In the past 52 weeks, Xilinx Inc share prices have been bracketed by a low of $64.15 and a high of $141.60 and are now at $113.29, 77% above that low price. The 200-day and 50-day moving averages have moved 0.66% higher and 1.25% lower over the past week, respectively.

Xilinx, Inc. designs, develops, and markets complete programmable logic solutions. The Company's solutions include advanced integrated circuits, software design tools, predefined system functions delivered as cores of logic, and field engineering support. Xilinx sells its products through several channels of distribution to customers in the United States and overseas.

SmarTrend is monitoring the recent change of momentum in Xilinx Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Xilinx Inc in search of a potential trend change.

Keywords: bearish inside day candle xilinx inc

Ticker(s): XLNX