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Xilinx (XLNX) Approaches New Downside Target of $37.66

Published on Tue, 05/07/2013 - 09:42
By Adrienne Chilton

Xilinx (NASDAQ:XLNX) has opened bearishly below the pivot of $38.16 today and has reached the first level of support at $37.83. Analysts will be watching for a cross of the next downside pivot targets of $37.66 and $37.16.

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.

Xilinx (NASDAQ:XLNX) has potential upside of 2.0% based on a current price of $37.82 and analysts' consensus price target of $38.56. The stock should find initial support at its 50-day moving average (MA) of $37.40 and further support at its 200-day MA of $35.30.

Xilinx share prices have moved between a 52-week high of $39.43 and a 52-week low of $30.25 and are now trading 25% above that low price at $37.82 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.3%.

By Adrienne Chilton