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Xilinx (XLNX) Breaks Through Support at $37.81

Published on Mon, 03/25/2013 - 12:40
By Peter Chu

Xilinx (NASDAQ:XLNX) has opened bearishly below the pivot of $38.01 today and has reached the first level of support at $37.81. Investors may be interested in a cross of the next downside pivot targets of $37.65 and $37.29.

In the past 52 weeks, shares of Xilinx have traded between a low of $30.25 and a high of $39.43 and are now at $37.70, which is 25% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% 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.

Xilinx has overhead space with shares priced $37.70, or 2.2% below the average consensus analyst price target of $38.56. The stock should find initial support at its 50-day moving average (MA) of $37.33 and further support at its 200-day MA of $34.58.

By Peter Chu
pchu@fnno.com

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