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Xilinx Inc Hits A Short Circuit

|Includes:Xilinx, Inc. (XLNX)

This morning, the leading semiconductor equipment stock Xilinx Inc (NASDAQ:XLNX) is coming under major distribution after reporting a weaker than expected earnings outlook. Today, Xilinx Inc stock is trading lower by $7.17 to $40.99 a share. Anytime a stock comes under this degree of selling it is always prudent to look at the larger time frames for important support levels. Traders and investors should note that the stock will have near term daily chart support around the $37.62 level. This would be a level where the stock would likely stage a near term bounce. Should that chart level fail the next weekly chart support level is around the $33.80 area. This larger time-frame level would also be an area where traders can expect a bounce.

Nick Santiago

Stocks: XLNX