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Watch for Shares of Xilinx (XLNX) to Approach Resistance at $38.35

Published on Fri, 05/03/2013 - 09:46
By Adrienne Chilton

Xilinx (NASDAQ:XLNX) has opened bullishly above the pivot of $37.91 today and has reached the first level of resistance at $38.19. Should the shares continue to rise, the resistance pivots of $38.35 and $38.79 will be of interest.

In the past 52 weeks, Xilinx share prices have been bracketed by a low of $30.25 and a high of $39.43 and are now at $38.22, 26% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.4%.

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.

Potential upside of 0.9% exists for Xilinx, based on a current level of $38.22 and analysts' average consensus price target of $38.56. The stock should find initial support at its 50-day moving average (MA) of $37.38 and further support at its 200-day MA of $35.23.

By Adrienne Chilton
achilton@fnno.com

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