• Return to Headlines

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

By David Diaz

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. Yesterday's price range of $90.29 and $90.61 is within the prior day'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. 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.

Based on a current price of $90.39, Xilinx Inc is currently 17.6% above its average consensus analyst price target of $74.50. The stock should discover initial support at its 50-day moving average (MA) of $87.21 and subsequent support at its 200-day MA of $75.54.

Over the past year, Xilinx Inc has traded in a range of $62.27 to $95.18 and closed yesterday at $90.39, 45% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.8%.

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 am inside day candle xilinx inc

Ticker(s): XLNX