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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Xilinx Inc (NASDAQ:XLNX) based on the price action in the company's shares. Yesterday's price range of $87.23 and $88.37 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. Traders and investors interested in shares of Xilinx Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Xilinx Inc (NASDAQ:XLNX) is currently priced 18.8% above its average consensus analyst price target of $74.50. Xilinx Inc shares should encounter resistance at the 200-day moving average (MA) of $94.75 and support at the 50-day MA of $81.63.

Over the past year, Xilinx Inc has traded in a range of $67.68 to $133.00 and closed yesterday at $91.70, 35% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has remained constant.

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 tracking the current trend status for Xilinx Inc and will alert subscribers who have XLNX in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle xilinx inc

Ticker(s): XLNX