Xilinx (XLNX) reported quarterly earnings on 1/28/2020. The company reported EPS of $0.68, which beat consensus estimates of $0.62. Revenues came in at $723M, which missed consensus estimates of $725.7M. The company forecasted revenue in the range of $750 – 780M in Q4, which was below the $822M consensus estimates. The company announced they are laying off 7% of their workforce in response to “revenue headwinds.” Let’s see what the charts tell us.
Xilinx (XLNX) Weekly Chart – annotations by askSlim.com
At askSlim.com we use technical analysis to evaluate price charts of stocks, futures, and ETF’s. We use a combination of cycle, trend and momentum chart studies, on multiple timeframes, to present a “sum of the evidence” directional outlook in time and price.
askSlim.com Technical Briefing: XLNX has a very negative intermediate-term cycle configuration and negative weekly momentum. These conditions will likely to limit any upside in the stock in the near-term.
On the upside, there is a falling intermediate-term Fibonacci resistance at 98.28 followed by another zone of resistance between 104.92 – 115.64. On the downside, there is a major Fibonacci support at 79.25. Our analysis suggests that for the bulls to regain control of the intermediate-term, we would likely need to see a weekly close above 115.64.
askSlim.com Sum of the Evidence: XLNX has a very negative weekly cycle configuration that suggests that rallies will be limited to the intermediate-term Fibonacci resistances beginning at 98.28. The next projected intermediate-term low is due between the end of February and the end of March.
Interested in askSlim.com?
Get professional grade technical analysis, trader education and trade planning tools at askSlim.com. Write to email@example.com for special askSlim membership trial offers!