Monday, August 20, 2018 11:57:50 AM
Xilinx Inc (XLNX:NASDAQ) is a leading technology stock that has been coming under pressure recently. Today, the stock is trading lower by 0.88 cents to $70.14 a share. Traders and investors should note that this stock has been in a trading range since the start of 2018. The high end of the range has been around the $77.00 level and the low end of the range has been around the $62.50 area. A case can be made that XLNX stock has been making higher lows every time the stock price has tested the low end of the range. This time around the $65.00 area should serve as important support when tested. There is also the 100-week moving average around that level as well, this will increase the odds of institutional support and that is what moves stocks.
Nicholas Santiago
InTheMoneyStocks
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