XLNX unable to break through key resistance level
Xilinx Inc. (XLNX) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, XLNX ended Thursday at 71.47 gaining $0.48 (0.68%). Today's closing price of 71.47 marks the highest close since March 29th. Closing above Wednesday's high at 71.02, the share confirms its breakout through the prior session's high having traded $0.87 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (XLNX as at May 17, 2018):
Thursday's trading range was $1.10 (1.55%), that's below last trading month's daily average range of $1.45. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.
Unable to break through the key technical resistance level at 71.89, Xilinx Inc closed below it after spiking as high as 71.89 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.
The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
Buying might speed up should prices move above the nearby swing high at 71.89 where further buy stops could get activated. Further buying might move prices higher should the market test April's close-by high at 72.45.